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."

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