- Economic infrastructure debt investor Sequoia Economic Infrastructure Fund said it planned to launch an equity raising to repay debt and help fund acquisition opportunities.

Any issue of shares was expected to be at a price accretive to the company's net asset value, and include a material level of pre-emption rights for existing investors.

'Any such equity raise, including its structure, timing, size and approval by the board, will be subject to the company's level of deployment and net leverage, prevailing market conditions and regulatory approvals,' the fund added.

Sequoia Economic Infrastructure said it had materially deployed or committed the proceeds of its £280m revolving credit facility and had outstanding drawings on the facility at the end of December of £224m, plus cash of £55.8m.

The company also had undrawn commitments on existing investments collectively valued at £92.7m.

'The investment adviser continues to see a strong pipeline of currently available investment opportunities meeting the company's investment criteria,' it added.

'To take advantage of these opportunities, the company intends to raise additional equity capital.'

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