6th Jan 2021 17:55
Hipgnosis Songs Fund Ltd - London-based music royalty investment company - Enters into an agreement with a syndicated group of lenders, with JPMorgan Chase Bank as lead arranger, to increase its revolving credit facility to USD600 million from USD400 million. Notes it has the choice to request an increase in the facility commitment by a further USD150 million subject to certain conditions. Adds that the LIBOR floor used to calculate interest payments has been removed, thereby reducing the company's cost of debt.
Current stock price: 122.50 pence
Year-to-date change: down 0.8%
By Ife Taiwo; [email protected]
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