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TVT, UCC in $23-Million Financing Deal

February 23, 1999|CHUCK PHILIPS

TVT Records signed a $23-million finance deal Monday with music industry veteran Charles Koppelman's Universal Credit Corp. secured by the independent New York label's revenue from its catalog of record masters and music publishing. The asset-backed financing is a 10-year loan that UCC will hold on its books for future securitization in a pooled loan transaction. TVT, one of the nation's leading soundtrack producers, has an eclectic roster of pop music artists and is best known for discovering rock star Trent Reznor and Nine Inch Nails.

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