An amount of roughly GBP200 million (US$263.02 million) will be raised by Sequoia Economic Infrastructure Income Fund Ltd to fund attractive investment opportunities in the economic infrastructure debt market. It is expected that the trust will issue up to 188.7 million new ordinary shares at a price of 106.0 pence per share.

Around 149.4 million shares will be offered to current shareholders by way of an open offer pursuant to which they will be entitled to apply for 2 new shares for every 11 existing shares held. Using a placing and subscription offer, the balance of not taken up shares together with the new ones will be issued.

The fund intends to use under its multi-currency revolving credit facility the proceeds to repay the drawn commitments and to fund its GBP300 million (US$394.53 million) investment pipeline. The company had drawn an amount of around GBP116.2 (US$152.81 million) million from its loan facility.