RBS International has completed a multimillion-pound revolving credit facility for a Guernsey-based debt fund.
Sequoia Economic Infrastructure Income Fund is a Guernsey-domiciled closed-ended fund listed on the FTSE 250 Index, which invests principally 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 support the fund's growth. The refinancing follows a £40 million term facility with JP Morgan.
The bank's team in Guernsey involved in completing the transaction included Craig Morris and Paul Milsted in Funds Banking, and Chris Eker in RBS International Markets.