StockMarketWire.com - Specialist debt investor Sequoia Economic Infrastructure Income Fund said it had refinanced and increased the size of a revolving credit facility that was due to mature this December.

The £280 million facility had been upped to £325 million and was provided by The Royal Bank of Scotland International, ING Bank, Macquarie and Raiffeisen Bank International.

Sequoia Economic Infrastructure said the facility had a lower borrowing cost of 200 basis points over SONIA (or equivalent), compared to 210 basis points over LIBOR on the prior facility.

An arrangement fee would be payable upfront in addition to a commitment fee on the undrawn portion of the new facility on equivalent terms to the previous facility.


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