Riverstone Credit Opps. Inc PLC Portfolio Update (5423R)
09 March 2021 - 6:00PM
UK Regulatory
TIDMRCOI
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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