hipgnosis songs fund ltd said monday that it has refinanced its debt facilities the londonlisted music investor said that it has entered into a new revolving credit facility with a commitment of 700 million for five years until sept 30 2027 the interest on the new facility has an initial margin of 2 among other conditions the company added that it is in advanced talks to fix the majority of its interest rate exposure by entering into interest rate swaps in an increasingly unpredictable debt market this deal materially reduces our interest margin and the swaps we hope to close imminently provide long term certainty and a stable platform to take advantage of our industrys tailwinds chief executive merck mercuriadis said shares at 0828 gmt were up 29 pence or 325 at 920 pence