By Variety Staff Follow Us on Twitter Even in a pandemic, Hipgnosis Songs — the fast-rising music publishing company that’s been buying up catalogs by hitmakers ranging from Timbaland and the Chainsmokers to Jack Antonoff and Jeff Bhasker — is raising hundreds of millions of dollars.
The company, founded by Merck Mercuriadis and Chic cofounder Nile Rodgers (pictured above), has secured a new $188 million revolving credit facility from a syndication of seven banks, including JP Morgan.
The news was first reported by Music Business Worldwide. According to the announcement, the facility refinances Hipgnosis’s £65m RCF, originally lent by JP Morgan in August 2019.
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