Hipgnosis Songs Fund Limited has announced that it has signed a Revolving Credit Facility (RCF) of £65 million from JPMorgan Chase Bank (as Lead Arranger). The RCF will be available for three years and the Company may request an increase in the RCF commitment by a further £35 million subject to certain conditions. Hipgnosis says that the RCF will provide it with flexible capital to both fund investments and to provide it with working capital. In accordance with Hipgnosis's investment policy, any borrowings by the Company will not exceed 20 per cent. of the value of the assets of the Company less its liabilities.