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Sequoia Economic Infrastructure £280m credit facility committed and equity raise plans afoot

Sequoia Economic Infrastructure-SEQI

The economic infrastructure debt investor, Sequoia Economic Infrastructure (SEQI), has announced that it has committed the proceeds of its £280m revolving credit facility (RCF). As at 31 December 2019, SEQI had outstanding drawings on its RCF of £224m and cash of £55.8m, amounting to in net leverage of £168.m. SEQI also had undrawn commitments on existing investments collectively valued at £92.7m.

SEQI to raise additional equity capital

SEQI goes on to note that its manager continues to see a strong pipeline of currently available opportunities and that it intends to raise additional equity capital in order to capitalise. 

The proceeds from any equity raise will be used to repay debt outstanding under the RCF to enable the company re-draw the funds to deploy into SEQI’s pipeline of opportunities, minimising cash drag.

SEQI: Sequoia Economic Infrastructure £280m credit facility committed and equity raise plans afoot

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