Riverstone Credit Opportunities Income

Portfolio Update
RNS Number : 5423R
Riverstone Credit Opps. Inc PLC
09 March 2021
 

Riverstone Credit Opportunities Income Plc

 

Portfolio Update

 

London, UK 9 March 2021: Riverstone Credit Opportunities Income Plc ("RCOI" or the "Company") has announced it has originated one new investment and fully realised another investment: 

New Deal Activity

§ Roaring Fork Midstream - RCOI participated in a $50.0 million first lien delayed-draw term loan to a sponsor-backed midstream company that owns and operates pipeline and storage related infrastructure moving natural gas and oil from the wellhead to market. At closing on 2 March 2021, $5.9 million was committed by RCOI and $1.5 million was drawn at closing. The first lien term loan has a maturity of March 2024 and an expected all-in yield to maturity of 11.8% for RCOI on a fully-drawn basis.

Realisation

§ Project Yellowstone Realisation - In June 2019, RCOI invested $5.8 million as part of an upsize of a first lien term loan to a privately-owned, water midstream company that provides transportation and disposal infrastructure throughout the SCOOP, STACK, and MERGE plays in Central Oklahoma. On 4 March 2021, RCP realised the investment, resulting in 13.5% realised IRR and 1.23x realised MOIC.

Pro forma for all the above activity, the Company is 83 per cent. committed and 73 per cent. Invested

 

About Riverstone Credit Opportunities Income Plc:

 

RCOI seeks to generate consistent Shareholder returns predominantly in the form of income distributions, principally by making senior secured loans to small and middle-market energy companies, which span conventional energy as well as low carbon and renewable sources. The investment strategy is predicated on asset-based lending, with conservative loan-to-value ratios and structural protective features to mitigate risk. The Company will invest broadly across energy subsectors globally, with a primary focus on infrastructure businesses and going forward those with de-carbonization strategies in North America. RCOI intends to create a diversified portfolio across various energy subsectors, commodity exposures, technologies and end-markets to provide natural synergies that aim to enhance the overall stability of the portfolio.

For further details, see https://www.riverstonecoi.com/.

 

Neither the contents of RCOI's website nor the contents of any website accessible from hyperlinks on the websites (or any other website) is incorporated into, or forms part of, this announcement.

 

Media Contacts

 

For Riverstone Credit Opportunities Income Plc:

 

Daniel Lim

+1 212 271 6266

 

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