NEW YORK, April 17, 2024 -- Sotheby's Financial Services, Inc. ("Sotheby's Financial"), the world's leading full–service art financing company, announced today the launch of a first-of-its kind securitization program. The inaugural issuance, which priced yesterday, consists of $700 million of asset-backed notes (the "Notes") backed by art secured loans. Morningstar DBRS is expected to rate the four classes of Notes at closing with the senior-most class expected to receive the highly coveted AAA (sf) rating.

This press release is not an offer to sell, nor a solicitation of an offer to buy, any securities, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.





Sotheby's Logo

SOTHEBY'S COMMUNICATIONS TEAM


KARINA SOKOLOVSKY | KARINA.SOKOLOVSKY@SOTHEBYS.COM

DEREK PARSONS | DEREK.PARSONS@SOTHEBYS.COM




About Sotheby's Financial Services


Sotheby's Financial is the world's leading full–service art financing company. Sotheby's Financial enables clients worldwide to unlock liquidity in fine art, luxury items, and other collectibles through financing solutions and innovation. Sotheby's Financial is vertically integrated with Sotheby's, one of the world's largest and most-trusted marketplaces for world-class works of art and rare objects.  Sotheby's has been uniting collectors with world-class works of art and luxury items since 1744. Sotheby's empowers an international community of collectors and connoisseurs to discover, acquire, and consign fine art and rare objects.


https://www.sothebys.com/en/about/services/sothebys-financial-services


About Sotheby's


Established in 1744, Sotheby's is the world's premier destination for art and luxury. Sotheby's promotes access to and ownership of exceptional art and luxury objects through auctions and buy-now channels including private sales, e-commerce and retail. Our trusted global marketplace is supported by an industry-leading technology platform and a network of specialists spanning 40 countries and 70 categories which include Contemporary Art, Modern and Impressionist Art, Old Masters, Chinese Works of Art, Jewelry, Watches, Wine and Spirits, and Design, as well as collectible cars and real estate. Sotheby's believes in the transformative power of art and culture and is committed to making our industries more inclusive, sustainable and collaborative.


Instagram | Facebook | Twitter | YouTube | LinkedIn | Pinterest | WeChat | Weibo | Youku


Stream live auctions and place bids in real time, discover the value of a work of art, browse sale catalogues, view original content and more at sothebys.com, and by downloading Sotheby's app for iOS and Android.


Logo - https://mma.prnewswire.com/media/2209697/Sothebys_Logo.jpg 








Cision View original content:https://www.prnewswire.co.uk/news-releases/sothebys-financial-services-announces-groundbreaking-700-million-securitization-302120176.html