Refinancing of Revolving Credit Facility

Sequoia Economic Infra Inc Fd Ld

18 July 2024

 

18 July 2024

Sequoia Economic Infrastructure Income Fund Limited

(the "Company" or "SEQI") 

Refinancing of Revolving Credit Facility

The Board of SEQI, the specialist investor in economic infrastructure debt, is pleased to announce that it has successfully refinanced the Company's existing multi-currency Revolving Credit Facility of £325 million that was due to mature on 12 November 2024.

The new £300m multi-currency Revolving Credit Facility ("RCF") is provided by JPMorgan Chase Bank, N.A., London Branch (the "Lender"), has a three-year tenor and benefits from a £50m optional accordion feature. The RCF has a lower borrowing cost of 190 basis points over SONIA (or equivalent), compared to 200 basis points over SONIA (or equivalent) on the prior facility. An arrangement fee will be payable upfront in addition to a commitment fee on the undrawn portion of the new RCF.

The RCF and the Accordion Facility (if exercised) provide the Company with additional liquidity which will be used for working capital purposes and to fund investments in accordance with the Company's investment policy.

The RCF 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 Company. 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 Steve Cook Dolf Kohnhorst Randall Sandstrom Anurag Gupta	[phone]
Jefferies International Limited (Corporate Broker & Financial Adviser) Gaudi Le Roux	[phone]
Teneo (Financial PR) Martin Pengelley Elizabeth Snow	[phone]
Sanne Fund Services (Guernsey) Limited (Company Secretary) Matt Falla Devon Jenkins	[phone]

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

 

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