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
