The Weeknd is seeking $1 billion in financing with a music catalog-backed deal that will give him $250 million in cash (Alexa, play “Starboy”) plus $750 million in debt (never mind, play “Cry for Me”), Bloomberg reports.

An investor group called Chord Music Partners currently owns 50% of his publishing. The once-and-future Abel Tesfaye (he said he plans to retire the name The Weeknd) now wants to cash out $250 million in equity from what’s left of his catalog, plus raising $500 million in senior debt (lower interest, must be paid back first) and $250 million in junior debt (higher interest, must be paid back second). Lyric Capital Group is leading the discussions to find investors for the $1 billion.

The structure of the deal suggests that The Weeknd plans to launch business ventu

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