A music publishing market often called frothy for its rising price tags is showing no signs of slowing down as songwriters continue making major deals with investors. Now, the board of directors of Hipgnosis Songs Fund Limited, the acquirer this week Neil Young and Lindsey Buckingham s catalogs, have approved an increase in its debt facility by £200 million ($272 million) to £600 million ($815.8 million).
The Hipgnosis Songs Fund Limited, for which The Family (Music) Ltd. acts as an investment advisor, has raised over £105 billion through a 2018 initial public offering and five additional offerings on the London Stock Exchange. But the fund also has a £400 million revolving credit facility at its disposal; the facility was originally £65 million and has been raised as the fund has met net asset value benchmarks and other conditions. The latest bump in the credit facility allows the Royalty Fund to continue its buying spree; if certain conditions