CMS advises Sequoia Economic Infrastructure Income Fund Limited (“SEQI) on £300 million fundraising

CMS has advised SEQI on an open offer, placing and offer for subscription which has raised £300 million before expenses.  The fundraising was very significantly oversubscribed and investor demand exceeded the maximum issue size.

The proceeds of the fundraising will be used to repay substantially all of the drawings under SEQI’s revolving credit facility, strengthening its balance sheet and will allow it to pursue attractive buying opportunities in the economic infrastructure debt markets.

Commenting on the successful fundraise, CMS Corporate partner and head of ECM, Alasdair Steele commented:
“Despite the market proving very volatile, this successful fundraise goes to show that the UK equity markets are still open and receptive to attractive opportunities.”  

The CMS team was led by Head of ECM, Alasdair Steele, supported by Corporate senior associate Harriet Serpis, associates Jennifer Gray and Brett Mendonca and paralegal Zoe Loftus-Bell.