Sequoia Economic Considers Future Equity Issue, Draws USD55 Million (ALLISS)

4th Apr 2018 08:51

LONDON (Alliance News) - Sequoia Economic Infrastructure Income Fund Ltd said on Wednesday it has drawn USD55.0 million from its GBP100.0 million multi-currency leverage facility with The Royal Bank of Scotland International Ltd.

In addition, the FTSE 250-listed investment trust is considering an equity issue, to increase its capital base in light of an attractive pipeline of investment opportunities. Proceeds would go towards repaying debt under the facility and then provide capital for Sequoia's pipeline.

The timing, size and price of a future issue is yet to be disclosed, however, it is expected that up to a maximum of 73.0 million new shares would be issued.

Shares in Sequoia Economic Infrastructure Income Fund were up 0.9% at 107.00 pence on Wednesday.

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