Riverstone Credit Opps. Inc PLC Proposed Debt Refinancing of Harland & Wolff (0328G)
11 November 2022 - 6:00PM
UK Regulatory
TIDMRCOI
RNS Number : 0328G
Riverstone Credit Opps. Inc PLC
11 November 2022
11 November 2022
Riverstone Credit Opportunities Income Plc
Proposed Debt Refinancing of Harland & Wolff
Riverstone Credit Opportunities Income ("RCOI" or the
"Company"), the LSE-listed energy infrastructure and
energy-transition credit investor, notes the announcement published
on 9 November by Harland & Wolff Group Holdings PLC ("Harland
& Wolff"), a London-listed company focused on strategic
infrastructure projects, that it has entered into an exclusive term
sheet with Astra Asset Management ("Astra") for the proposed
refinancing of Harland & Wolff's credit lines.
Completion of the arrangements envisaged by the term sheet with
Astra would result in a full and attractive refinancing of the
first lien green term loan initially funded by Riverstone Credit
Partners in March 2022. RCOI has to date committed $14.1 million of
the current $56 million loan.
The Company looks forward to providing a further update in due
course.
Jamie Brodsky, Co-Head of Riverstone Credit, the Company's
Investment Manager said:
"We were pleased to see the dual announcements from Harland
& Wolff and Astra regarding the expected refinancing of
Riverstone's credit facility. Consistent with our stated strategy
of providing attractive development capital to dynamic companies
with the expectation of refinancing events as borrowers mature, we
see this as further validation of the progress and potential of
Harland & Wolff."
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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