Coronavirus Update

Sequoia Econ Infrastructure Income Fund Limited

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("SEQI" or the "Company")

Possible Equity Raise

SEQI, the specialist investor in economic infrastructure debt, is pleased to announce that the Company has materially deployed or committed the proceeds of its £280 million Revolving Credit Facility (the "RCF"). As at 31 December 2019, the Company had outstanding drawings on its RCF of £224 million and cash of £55.8 million, resulting in net leverage of £168.2 million. In addition, the Company had undrawn commitments on existing investments collectively valued at £92.7 million.

The Investment Adviser continues to see a strong pipeline of currently available investment opportunities meeting the Company's investment criteria. To take advantage of these opportunities, the Company intends to raise additional equity capital. 

The proceeds from any equity raise will be used to repay debt outstanding under the RCF to enable the Investment Adviser to subsequently re-draw the funds to deploy into SEQI's pipeline of opportunities, minimising cash drag.

To the extent that the Board resolves to proceed with an equity raise, any issue of shares will be at a price per share that is accretive to NAV and is expected to include a material level of pre-emption rights for the Company's existing shareholders. 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.