Sequoia Economic Infrastructure Income Fund Limited

0.00 (0.0%)
Share Name Share Symbol Market Type Share ISIN Share Description
Sequoia Economic Infrastructure Income Fund Limited LSE:SEQI London Ordinary Share GG00BV54HY67 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 80.10 1,184,269 12:27:13
Bid Price Offer Price High Price Low Price Open Price
80.00 80.40 80.10 79.90 80.10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Trust,ex Ed,religious,charty 84.47 62.72 3.40 20.15 1,383.89
Last Trade Time Trade Type Trade Size Trade Price Currency
12:38:57 O 3,116 80.22 GBX

Sequoia Economic Infrast... (SEQI) Latest News (1)

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Date Time Title Posts
17/5/202314:53Sequoia Economic Infrastructure Income Fund358

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Posted at 17/5/2023 14:53 by cocopah
I read the update this morning and the only thing that surprised me was the interest contribution per share, which was lower than I expected, given the rise in interest rates, share buybacks and the amount of the book that is on variable rate. I think last month it was 0.74p and this month only 0.61p. 🤷‍a94;️🤔
Posted at 17/5/2023 07:30 by spangle93
Monthly summary

NAV marginally down, but income and asset valuation adjustments in the MONTH just about offset the quarterly dividend payment.

Capital markets video is available here (1 hour 52 minutes)

Posted at 20/4/2023 07:16 by cwa1
nterim Dividend for the Period Ended 31 March 2023

The Directors of the Company have declared that an interim dividend of 1.71875p per share will be payable to holders of Ordinary Shares as follows in respect of the three-month period ended 31 March 2023:

Ex-Dividend Date: 27 April 2023
Record Date: 28 April 2023
Payment Date: 26 May 2023
Dividend per Ordinary 1.71875 pence per share

Posted at 12/4/2023 16:39 by gateside
Looks like it's finally edging back upwards.Buys a nice yield at current price
Posted at 28/3/2023 15:56 by apollocreed1
I'm comparing SEQI to GCP Infrastructure (GCPI). SEQI on a discount of 13.88% and GCPI on a discount of 22.71%. They seem to be very similar, so does it not make sense to sell or trim some SEQI and reinvest that into GCPI?
Posted at 14/3/2023 14:27 by cocopah
The NAV per share for SEQI decreased to 93.10 pence per share from the prior month's NAV per share of 93.55 pence per share, representing a decrease of 0.45 pence per share. A full attribution of the changes in the NAV per share is as follows:
January NAV 93.55
Interest income, net of expenses 0.68
Asset valuations, FX movements net of hedges -1.14
Subscriptions/Redemptions 0.01
February NAV 93.10

As the Company is approximately 100% currency hedged, it does not expect to realise any material FX gains or losses over the life of its investments. However, the Company's NAV may include unrealised short-term FX gains or losses, driven by differences in the valuation methodologies of its FX hedges and the underlying investments - such movements will typically reverse over time.

Non-performing loans
There has been ongoing progress over the past month in relation to the Company's non-performing loans and there has been no significant changes in their book value as at 28 February 2023.

The Company has agreed with the administrator of Simple Energy (which is the guarantor of the Company's loan to Bulb Energy) to, in effect, exchange approximately £11.3 million of its loan for a majority shareholding in Zoa. Zoa is a pioneering business that owns all the software developed by Bulb and has about 100 employees focused on further developing the software, which will be marketed to energy supply companies in the UK and elsewhere. Zoa is taking steps to raise additional, third-party equity (e.g. from venture capital or private equity funds) to support its growth. Further updates will be provided to shareholders in the future when developments occur.

Posted at 20/1/2023 14:56 by cwa1
Purchase of Shares in connection with payment of Investment Adviser fees

The Company announces that, in accordance with the terms of the Investment Advisory Agreement between the Company and Sequoia Investment Management Company Limited (the "Investment Adviser"), the Investment Adviser has acquired 334,733 ordinary shares in the capital of the Company ("Ordinary Shares") at a price of 87.65 pence per Ordinary Share, in relation to fees payable for the three-month period ended 31 December 2022. The Ordinary Shares have been purchased pursuant to the Investment Advisory Agreement ("IAA"), details of which were disclosed in the prospectus published by the Company on 10 February 2020.

Following the purchase, the Investment Adviser has an interest in 4,436,464 Ordinary Shares, representing 0.25% of the Company's issued Ordinary Shares.

Posted at 14/12/2022 10:17 by cocopah
RNS Number : 6097J
Sequoia Economic Infra Inc Fd Ld
14 December 2022

Sequoia Economic Infrastructure Income Fund Limited

("SEQI" or the "Company")

Increased dividend target:

In November 2022, the annualised target dividend increased by 10% from 6.25p to 6.875p per share, with effect from the current (3rd) quarter of the 2023 financial year. The quarterly dividend with respect to the third quarter of the 2023 financial year is expected to be declared in January 2023.

The Investment Adviser expects the Company's dividend cover to improve materially for the 2023 financial year as the portfolio's floating rate investments (representing 59% of the portfolio) continue to benefit from increasing short term interest rates.

NAV update

The NAV per share for SEQI, the specialist investor in economic infrastructure debt, increased to 93.25 pence per share from the prior month's NAV per share of 92.14 pence per share, representing an increase of 1.11 pence per share.

A full attribution of the changes in the NAV per share is as follows:

pence per share

October NAV


Interest income, net of expenses


Asset valuations

FX movements, net of hedges



November NAV


Portfolio update

As at 30 November, the Company had cash of £39.5m and had drawn £165.2m on its £325.0m revolving credit facility. The Company also had undrawn commitments on existing investments collectively valued at £66.9m. The Company's invested portfolio consisted of 62 private debt investments and 6 infrastructure bonds across 8 sectors and 27 sub-sectors. It had an annualised yield-to-maturity (or yield-to-worst in the case of callable bonds) of 11.0% and a cash yield of 7.1%. The weighted average portfolio life is approximately 3.7 years. Private debt investments represented 98% of the total portfolio and 59% of the portfolio comprised floating rate assets.

The Company's invested portfolio remains geographically diverse with 52.6% located across the US, 23.1% in the UK, 24.1% in Europe, and 0.2% in Australia/New Zealand. The Company's pipeline of economic infrastructure debt investments remains strong and is diversified by sector, sub-sector, and jurisdiction. At month end, approximately 100% of the Company's NAV consisted of either Sterling assets or was hedged into Sterling. The Company has adequate resources to cover margin calls on its hedging book.

Over recent months reductions in asset values have been primarily due to increases in risk-free rates and credit spreads. The rise in risk-free rate adjustments have also increased the yield-to-maturity of floating rate investments and reduced the clean price of fixed rate assets (which also increases the yield-to-maturity). Investors are reminded that these declines are unrealised mark-to-market adjustments that should reverse over time as the investments approach their repayment date (the "pull-to-par" effect).

The following investments settled in November (excluding small loan drawings of less than $0.5m):

• An additional loan for $11.6m to Sunrun Safe Harbor HoldCo, a US-based manufacturer of solar energy equipment;

• An additional loan for £5.8m to Clyde Street, a hotel construction project in Scotland; and

• An additional Senior loan for PLN 13.3m (equivalent to $3.0m) to Green Genius to finance the construction of solar PV projects in Poland.

The following investments sold or prepaid in November:

• A full sale of Bluewater Holding BV's 10% 2023 bonds for $16.6m, a midstream oil and gas processing, storage, and offloading facility in Norway;

• A full sale of American Tanker (AMSC) 2025 bonds for $11.9m, a US-based tanker company;

• A partial sale for $8.4m of Brightline 2028 bonds, a privately owned passenger rail project in Florida; and

• A partial sale for $4.6m of Windstream 2027 bonds, a high-speed Broadband provider in the USA.

On average, the new investments have a higher ESG Score than those disposed of during the month.

There has been good progress over the past month in relation to the Company's non-performing loans:

• 4000 Connecticut Avenue (formerly Whittle School): the borrower has continued the execution of its re-capitalisation strategy for the property and the value of this loan has remained unchanged this month.

• Bulb Energy: the Investment Adviser continues with its strategy of achieving value from Bulb Energy and its parent, Simple Energy. To date, SEQI has received £14.0 million of repayments from Simple Energy. The mark on the Bulb loan has remained unchanged this month.

Posted at 12/8/2022 17:36 by cocopah
All quiet on the western front as far as the NAV update is concerned. I think we might see a little bump in the share price once the Bulb issue is sorted. Happy that they are supporting the share price through buybacks at the moment. Doesn’t look as if there’s much decent additional lending to be done at the moment.
Posted at 19/8/2020 15:00 by ukneonboy
Although I liked the article recommending SEQI in the Daily Telegraph about a month ago I'm starting to think that SEQI shares are starting to look a bit expensive (over priced) at 109p each.

Latest declared Net Asset Value 98p each which implies a 10.7% premium to Net Asset Value.

Think I'm going to sell and wait for the SEQI share price to fall back to nearer the N.A.V before re-buying.

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