The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Increase of Revolving Credit Facility

18 Dec 2019 07:00

RNS Number : 2356X
Sequoia Economic Infra Inc Fd Ld
18 December 2019
 

18 December 2019

 

Sequoia Economic Infrastructure Income Fund Limited ("SEQI" or the "Company") 

Increase in Revolving Credit Facility

In light of the Company's increased scale, its deployment level and its pipeline of opportunities, the Board has increased the size of the Company's multi-currency Revolving Credit Facility ("RCF") by entering into a third amendment and restatement agreement to the RCF, providing an additional £80 million of capacity and resulting in a total capacity of £280 million under the RCF.

The lending group and other key terms of the RCF remain unchanged. The tenor of the RCF is due to expire on 6 December 2021, with borrowing costs at 210 basis points over LIBOR.

The RCF imposes an interest cover test and a loan to value test on the Company and is secured by, inter alia, a charge over the bank accounts of the Company, a charge over the shares in Sequoia IDF Asset Holdings S.A. (the "Subsidiary") held by the Company and a charge on the assets of the Subsidiary. In accordance with the Company's Investment Policy, any borrowings undertaken by the Company will not exceed 20 per cent. of the value of the assets of the Company less its liabilities. 

For further information please contact: 

Sequoia Investment Management Company +44 (0) 20 7079 0480

Steve Cook

Dolf Kohnhorst

Randall Sandstrom

Greg Taylor

 

Stifel Nicolaus Europe Limited +44 (0) 20 7710 7600

Mark Bloomfield

Alex Miller

 

Praxis Fund Services Limited (Company Secretary) +44 (0) 1481 755530

Matt Falla

Katrina Rowe

 

About Sequoia Economic Infrastructure Income Fund Limited

The Company is a Guernsey registered closed-ended investment company that seeks to provide investors with regular, sustained, long-term distributions and capital appreciation from a diversified portfolio of senior and subordinated economic infrastructure debt investments. The Company is advised by Sequoia Investment Management Company Limited.

 

LEI: 2138006OW12FQHJ6PX91

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCKDLFFKLFFFBQ

Related Shares

Back to RNS

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.