Hipgnosis Song Fund Gets Another Round Of Financing

Hipgnosis Songs Fund

Veteran industry exec and artist manager MERCK MERCURIADES' HIPGNOSIS SONG FUND, which has spent hundreds of millions of dollars acquiring songs and publishing catalogs from the likes of MARK RONSON, RED ONE, BENNY BLANCO, TRICKY STEWART, STARRAH and POO BEAR, among others, has received another round of financing to fund future acquisitions.

The U.K.-based company, which trades on the LONDON STOCK EXCHANGE, 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 $190 million to $400 million.

The increased credit line 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 value.

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