Riverstone Credit Opps. Inc PLC Successful Realisation of Infrastructure Loan (0515A)
21 September 2022 - 4:02PM
UK Regulatory
TIDMRCOI
RNS Number : 0515A
Riverstone Credit Opps. Inc PLC
21 September 2022
21 September 2022
Riverstone Credit Opportunities Income Plc
Successful Realisation of FS Crude Infrastructure Loan at 14.8
percent IRR
Riverstone Credit Opportunities Income ("RCOI" or the
"Company"), the LSE-listed energy infrastructure and
energy-transition credit investor, is pleased to announce the
successful realisation of its investment in FS Crude LLC at a 14.8
percent realised IRR and 1.23x realised MOIC.
In March 2020, RCOI committed $5.9 million for a first lien
delayed-draw term loan to sponsor-backed FS Crude LLC, a company
which provides crude gathering, storage and blending services to a
diversified footprint of producers in the core of the Delaware
Basin.
On 16 September 2022, FS Crude LLC fully refinanced this loan
with a new source of financing, resulting in a 14.8 percent
realised IRR and 1.23x realised MOIC for RCOI investors. This
capital will now be re-deployed in RCOI's attractive pipeline of
infrastructure and energy-transition credit opportunities.
Christopher Abbate, Co-Head of Riverstone Credit, the Company's
Investment Manager said:
"This investment was made at the onset of the COVID-19 pandemic
and, as a result, endured a significant amount of operational and
financial volatility. By lending in a first-lien, senior secured
position to a company backed by a very high quality financial
sponsor, the investment was able to ride through this tumultuous
period to a successful exit with an attractive rate of return."
For Riverstone Credit Opportunities Income Plc:
Adam Weiss +1 212 271 2953
Media Contacts:
Buchanan
Helen Tarbet Henry Tel: +44 (0) 20 7466 5109 Tel: +44
Wilson Jon Krinks Verity (0) 20 7466 5111 Tel: +44 (0) 20
Parker 7466 5199 Tel: +44 (0) 20 7466 5197
Email: rcoi@buchanan.uk.com
About Riverstone Credit Opportunities Income Plc :
RCOI lends to companies that build and operate the
infrastructure used to generate, transport, store and distribute
both renewable and conventional sources of energy, and companies
that provide services to that infrastructure. RCOI is strategically
repositioning towards companies seeking to facilitate the energy
transition by decarbonizing the energy, industrial and agricultural
sectors, building sustainable infrastructure and reducing or
sequestering carbon emissions. The Company seeks to ensure that its
investments are having a positive impact on climate change by
structuring each deal as either a green loan or a
sustainability-linked loan, documented using industry best
practices.
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.
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END
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