Over 700 finance terms, Shmooped to perfection.
Yep. It's about David Bowie. Shaken, and stirred. In 1997 David Bowie the rock star legend, now with "Sir" before his name as in Loin of Beef pioneered a new kind of bond: He pledged the copyrights of his music library to back a loan - an asset backed bond. He had recorded 25 albums prior to 1990 and they were the collateral for his loan. For all the noise they made (rockers... grr...) the bonds were for only $55 million - a microscopic drop in the bucket in the scheme of all things bond. But it's Bowie. So it got play.