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RBS International has completed a £100m. pound revolving credit facility for a Guernsey based debt fund.
Sequoia Economic Infrastructure Income Fund Limited is a Guernsey domiciled closed-ended fund listed on the FTSE 250 Index. It invests in infrastructure loans backed by operational projects in the UK, Western Europe, North America, Australia and New Zealand.
Working with RBS Structured Finance in London, the bank has structured a £100m multi-currency revolving credit facility which sourced liquidity from the wider bank market, to further support the fund’s growth.
The refinancing followed on from a previous £40m. term facility with JP Morgan.
Jean-Paul Peters, Head of Fund Administration sector & Head of Funds Banking in Guernsey said: "This deal is a significant milestone for RBS International in Guernsey. Having worked with this Fund for a number of years, our understanding of its needs enabled us to structure a bespoke solution and lead a multi-bank facility with sufficient scale to fit their objectives.
"This deal required excellent collaboration between several specialist teams both in London and in Guernsey. Our ability to deliver solutions like this through a locally based relationship team is what makes us unique in Guernsey."
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