UK’s Hipgnosis plays revolver for sterling swan song
Hipgnosis Songs, a UK musical intellectual property fund, has signed a £65m revolving credit facility. But it could be one of the last bits of sterling business this year, with loans bankers saying that any sterling deals close to being signed will probably be pushed back to next year.
JP Morgan is providing Hipgnosis with the facility, which comes with a feature that lets the borrower increase the size to £100m.
The deal comes as loans bankers prepare for a desolate UK market for the final ...
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