Sequoia Economic Infra Inc Fd Ld Refinancing of Revolving Credit Facility
18 Julho 2024 - 3:00AM
RNS Regulatory News
RNS Number : 8332W
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
|
+44 (0) 20 7079 0480
|
|
Jefferies International Limited (Corporate Broker &
Financial Adviser)
Gaudi Le Roux
|
+44 (0) 20 7029 8000
|
|
Teneo (Financial PR)
Martin Pengelley
Elizabeth Snow
|
+44 (0) 20 7353 4200
|
|
Sanne Fund Services (Guernsey) Limited (Company
Secretary)
Matt Falla
Devon Jenkins
|
+44 (0) 20 3530 3107
|
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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