UK’s Hipgnosis plays revolver for sterling swan song

By Mike Turner
02 Sep 2019

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.

Hipgnosis will use the facility to finance song catalogue acquisitions and working capital.

The deal comes as loans bankers prepare for a desolate UK market for the final ...

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