Seeking Alpha

In what WSJ calls "a new sign of risk-aversion in the asset-backed securities market," Iconix...

In what WSJ calls "a new sign of risk-aversion in the asset-backed securities market," Iconix Brand Group (ICON) pays 4.375% to sell $275M in notes backed by licensing fees from brands like Candie's and Sharper Image. This was more than the 4-4.25% expected and is emblematic of the shifting environment for higher yielding assets. For ICON though, the result of the offering might prove the wisdom inherent in the deal — according to the Journal, the company "sold the debt … because it was concerned it might have to pay higher rates in the future."
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|