Describe any major corporate financing innovation that occurred between 1990 and 1997. What effect did the innovation have on corporate financing?© BrainMass Inc. brainmass.com October 10, 2019, 5:29 am ad1c9bdddf
One innovation in corporate finance that occurred between 1990 and 1997 was the floating of securities by Davie Bowie who raised $55 million in 1997. These securities were backed by expected royalties from future sales of his first 25 albums. The coupon rate was 7.9%, with 15 year maturity. The purchaser was Prudential Insurance Co, the bonds were guaranteed by EMI Group, and the ...
Corporate Financing is explained in a structured manner in this response. The answer includes references used. The explanation is given in 206 words.