David Bowie $55 million private placement: Fahnestock & Co
Securitizations of intellectual property are rare, and this was one of the most eye-catching deals of the year - the first ever using music royalties as future receivables. Bowie has always been a creative influence in the music scene, but this is his first innovation in finance. The securities, which are privately placed, were backed by record masters, publishing rights and copyrights. Only recordings up to 1990 are part of the securitization. The deal is possible because of the consistent sales of the Bowie back catalogue - more than 1 million units per year. The bonds have an average life of 10 years.
Land Securities £210 million convertible bond: Schroders
One of the largest UK convertibles of the past year, the deal underlines the demand from UK investors for high-quality convertible products. Land Securities took a gamble considering the uncertain conditions in the property market at the time, but the deal was more than three times oversubscribed and was tightly priced.
Sakura $1 billion subordinated debt: Merrill Lynch
The deal, the largest-ever offering of perpetual debt, was split into two tranches with different coupons.