Justin Bieber, Shakira Royalties to Back Bonds Sold by Recognition

Recognition Music Group, which manages a broad catalog of popular music, is selling $372 million of bonds backed by royalties from the likes of Red Hot Chili Peppers, Journey, Justin Bieber and Shakira.

The Blackstone Inc.-backed business, which operated as Hipgnosis until March, plans to sell bonds secured by publishing and recording rights from more than 47,000 compositions and recordings, according to a Kroll Bond Rating Agency report. More than 76% of the music was released over a decade ago.