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Article: Designer bonds could be height of fashion finance; Calvin, Donna could reap millions more along the way. (Calvin Klein, Donna Karan, new factoring techniques)
- Article from:
- Daily News Record
- Article date:
- November 14, 1997
- Author:
CopyrightCOPYRIGHT 1997 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PHILADELPHIA -- Last January, rock singer David Bowie raised $55 million through a factoring-like technique called securitization. Now the underwriter is looking to designers as a rich lode for similar deals.
"My partners have already talked to Calvin Klein and Donna Karan about the possibility of doing a similar deal for them, but it hasn't gone beyond the talking stage," said Riaz Valani, managing director of KMS Structured Finance Inc., based in Fremont, Calif.
Officials at Donna Karan International said they were not aware of the contact and Calvin Klein could not be reached for comment.
Valani spoke last week at a panel meeting exploring the new ...