Sequoia Economic Infrastructure refinances loan to make investments

Mon, 15th Nov 2021 10:01

(Alliance News) - London-based Sequoia Economic Infrastructure Income Fund Ltd on Monday said it has refinanced and increased its GBP280 million multi-currency revolving credit facility that was due to mature on December 7.

The FTSE 250-listed company which invests in income-generating economic infrastructure debt said the new GBP325 million multi-currency sustainability-linked revolving credit facility is provided by Royal Bank of Scotland International Ltd, ING Bank, Macquarie and Raiffeisen Bank International AG.

The loan has a three-year term and benefits from a GBP75 million accordion facility.

The company said the loan and the accordion facility, if exercised, provides it with additional liquidity which will be used for working capital purposes and to fund investments in accordance with the company's investment policy.

Sequoia Economic Infrastructure shares were trading 0.6% higher in London on Monday at 108.00 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Sequoia Economic Infrastructure Fund