23 Jul 2020

Increased Debt Facility


The Board of Hipgnosis, the first and only UK listed investment company offering investors a pure-play exposure to songs and associated intellectual property rights, and its Investment Adviser, The Family (Music) Limited, are pleased to announce that the Company has entered into an agreement with a syndicated group of lenders, with JPMorgan Chase Bank as Lead Arranger, to increase its Revolving Credit Facility from £150 million to $400 million. The increased Revolving Credit Facility will be used in line with the Company’s proposed financing strategy, and in accordance with the investment policy total borrowings will not exceed 30% of Net Asset Value1.