UPDATE 1-Misys signs new 210 mln stg banking facility

* Facility replaces borrowing to create Allscripts-Misys

* Shares rise 2 percent (Adds detail, reaction, shares)

LONDON May 27 (Reuters) - British IT company Misys MSY.L said on Wednesday it had agreed a 210 million pound ($334 million) credit facility, well ahead of the maturity of existing lending used to create its Allscripts-Misys subsidiary (MDRX.O).

Misys said the new three-year facility comprised a 80 million pound term loan and a 130 million multi-currency revolving credit facility, 2.5 to 3.5 percent above the interbank rate.

Shares in the group had risen 1.75 percent to 158.75 pence by 0746 GMT, outperforming a 0.5 percent rise in the mid-cap index .FTMC, as analysts said the new facility was at lower rates than the group's existing borrowing.

"Misys continues to deliver on its targets, and we would expect the market to view this restructuring of its high-interest facility as positive," analysts at Cazenove said in a note.

"The addition of three new banks to the lending group is a further endorsement of Misys's business model and strong recurring revenue base." (Reporting by Paul Sandle; Editing by Hans Peters) ($1=.6288 Pound)