Apollo Global Management Inc. has announced the closing of a $1.765 billion asset-backed securitization (ABS) transaction for Concord. This transaction includes the industry's first 10-year tranche, showcasing continued innovation in music securitization. The notes were rated A+ by KBRA and A2 by Moody's. The proceeds from this issuance will be used to repay Concord's $1.65 billion 2022-1 note series and to refinance and extend its $100 million variable funding note. The transaction was more than three times oversubscribed, reflecting strong investor interest and demand.
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