Intention to Raise Capital

RNS Number : 5433N

SQN Asset Finance Income Fund Ltd

27 October 2016

 

THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION

27 October 2016

SQN Asset Finance Income Fund Limited

Intention to Raise Capital

On 14 October 2016, the Company announced that the majority of the net proceeds of its earlier C Share issue were invested and as such the C Shares converted into Ordinary Shares earlier this month. 

The Board had previously indicated that the Company was considering raising additional capital this year and in light of its growing pipeline of opportunities and the fact that the majority of its available investment capital has been drawn, the Company is pleased to announce that it is seeking to raise additional capital by way of a new C Share issue (the "Issue").

The Company is targeting an issue of £150 million by way of a Placing, Open Offer and Offer for Subscription of up to 150 million C Shares. However, the Directors may, in consultation with Winterflood, increase the size of the Issue to up to 180 million C Shares, subject to investor demand.

The Company intends to publish a prospectus in early November and the Issue is expected to close in early December.

For further information please contact:

SQN Capital Management Jeremiah Silkowski Neil Roberts	01932 575 888
Winterflood Securities Limited	020 3100 0000
Neil Langford Chris Mills
Buchanan Charles Ryland Victoria Hayns	020 7466 5000

Notes to Editor

The Company invests in equipment lease and asset finance arrangements across a diverse portfolio of assets and industries predominantly in the UK, Northern Europe and US. The Company focuses on business-essential, revenue-producing (or cost saving) equipment and other assets with high in-place value and long economic life relative to the investment term.

The Company's Investment Managers are SQN Capital Management, LLC, a Registered Investment Advisor with the United States Securities and Exchange Commission and its subsidiary, SQN Capital Management (UK) Limited. The principals responsible for managing the portfolio are Jeremiah Silkowski and Neil Roberts.

 

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