The facility refinances Hipgnosis’s £65 million RCF, originally lent by JP Morgan in August 2019, and is based on an independent valuation of Hipgnosis’ music catalogs. Björn Lindvall, COO of Hipgnosis, commented: “We are very pleased to have been able to issue our first syndicated loan facility at incredibly good terms in these highly volatile markets whilst still being oversubscribed.”
Source: Hipgnosis now has $188m more to spend, via loan facility from banks including JP Morgan