RNS Number : 9424U
Riverstone Credit Opps. Inc PLC
28 January 2025
 

28 January 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Riverstone Credit Opportunities Income

Investment and Quarterly Update

Riverstone Credit Opportunities Income ("RCOI" or the "Company"), the LSE-listed energy infrastructure and energy-transition credit investor, announces its portfolio performance for the quarter ended 31 December 2024.

 

 Unaudited Net Asset Value

 

As at 31 December 2024, the unaudited net asset value per Ordinary Share, including net revenue for the quarter, was $0.92 ($0.93: 30 September 2024). The slight reduction in the Company's NAV over the quarter was due to the successful sale of the majority of Harland & Wolff at a modest discount to the previous valuation. 

 

Portfolio Summary and Key Performance Indicators

 

·    Portfolio of 100% floating rate, short duration, senior secured loans, from investing in companies engaged in driving forward the energy transition

·    32.5% NAV total return5 achieved since IPO in May 2019

·    38.1 cents in dividends paid since inception6

 

Cumulative Portfolio Summary

Unrealised Portfolio[1]

Investment Name

Subsector

Commitment Date

Cumulative Committed Capital ($mm)

Cumulative Invested Capital ($mm)

Gross Realised Capital ($mm)1

Gross Unrealised Value ($mm)

Gross Realised Capital & Unrealised Value ($mm)

% of Par as of 31 Dec 20242

% of Par as of 30 Sept 20242

31 Dec 2024 Gross MOIC

31 Dec 2024 Net MOIC

Caliber Midstream3

Infrastructure

Aug-19

4.0

4.0

0.6

0.5

1.1

0.514

0.474

0.28x

0.07x

Imperium3NY LLC

Energy Transition

Apr-21

6.8

5.4

6.7

0.0

6.7

0.014

0.014

1.25x

1.10x

 












Harland & Wolff Group Holdings PLC

Infrastructure Services

Mar-22

14.6

14.6

2.0

9.9

11.9

8.924

9.284

0.82x

0.70x

Seawolf Water Resources

Services

Sept-22

9.0

9.0

2.2

11.3

13.5

11.324

11.584

1.50x

1.41x

 












Hoover Circular Solutions

Infrastructure Services

Nov-22

13.7

13.7

3.4

14.4

17.8

99.81%

99.74%

1.30x

1.21x

Max Midstream

Infrastructure

Dec-22

5.0

5.0

1.4

5.2

6.7

104.30%

103.19%

1.33x

1.25x

Streamline Innovations Inc.

Infrastructure Services

Jun-23

9.9

5.4

1.3

5.5

6.8

100.64%

100.45%

1.27x

1.21x




$63.0

$57.1

$17.7

$46.9

$64.6

 

 

1.13x

1.02x

Realised Portfolio

Investment Name

Subsector

Commitment Date

Realisation Date

Cumulative Committed Capital ($mm)

Cumulative Invested Capital ($mm)

Gross Realised Capital ($mm)1

31 Dec 2024 Gross MOIC

31 Dec 2024 Net MOIC

Rocky Creek Resources

Exploration & Production

Jun-19

Dec-19

6.0

4.3

4.9

1.15 x

1.13 x

CIG Logistics

Infrastructure Services

Jan-20

Jan-20

8.7

8.7

8.9

1.02 x

1.02 x

Mallard Exploration

Exploration & Production

Nov-19

Apr-20

13.8

6.8

7.7

1.13 x

1.12 x

Market Based

Multiple

Aug-20

Nov-20

13.4

13.4

13.6

1.01 x

1.00 x

Project Yellowstone

Infrastructure

Jun-19

Mar-21

5.8

5.8

7.2

1.23 x

1.16 x

Ascent Energy

Exploration & Production

Jun-19

Jun-21

13.3

13.3

16.1

1.21 x

1.13 x

Pursuit Oil & Gas

Exploration & Production

Jul-19

Jun-21

12.3

12.3

15

1.22 x

1.14 x

U.S. Shipping

Infrastructure Services

Feb-21

Aug-21

6.5

6.5

7.3

1.13 x

1.10 x

Aspen Power Partners

Infrastructure

Dec-20

Oct-21

6.9

3.4

4.3

1.27 x

1.24 x

Project Mariners

Infrastructure Services

Jul-19

Apr-22

13.2

13.2

17.6

1.33 x

1.21 x

Roaring Fork Midstream

Infrastructure

Mar-21

Jun-22

5.9

5.9

6.9

1.16 x

1.10 x

FS Crude, LLC

Infrastructure

Mar-20

Sept-22

13.7

13.7

16.9

1.23 x

1.1 2 x

EPIC Propane Pipeline, LP

Infrastructure

Dec-19

Sept-22

14.8

14.8

19.6

1.32 x

1.20 x

Circulus Holdings, PBLLC

Infrastructure

Aug-21

Oct-22

12.3

12.3

14.0

1.14 x

 1.09 x

Hoover Circular Solutions

Infrastructure Services

Oct-20

Nov-22

15.4

15.4

17.0

1.10 x

1.01 x

Streamline Innovations Inc.

Infrastructure Services

Nov-21

Jun-23

13.8

6.9

8.9

1.29 x

1.22 x

Clean Energy Fuels Corp

Energy Transition

Dec-22

Dec-23

13.9

13.9

15.7

1.14 x

1.10 x

EPIC Propane Pipeline, LP

Infrastructure

Sept -22

Apr-24

13.9

13.9

17.2

1.24x

1.18x

Blackbuck Resources LLC

Infrastructure

Jun-21

Sept - 24

11.5

11.0

16.1

1.46x

1.33x





$215.2

$195.5

$234.8

1.20x

1.13x

The Gross Realised Capital column includes interest, fee income, and principal received. The Gross Unrealised Value column includes the amortization of OID, accrued interest, fees and any unrealised change in the value of the investment.

For Riverstone Credit Opportunities Income Plc:

Adam Weiss

+1 212 271 2953

 

J.P. Morgan Cazenove (Corporate Broker)

+44 (0)20 7742 4000

William Simmonds

 

Jérémie Birnbaum

 

James Bouverat (Sales)


 

Media Contacts:

Burson Buchanan

Helen Tarbet

Henry Wilson

Verity Parker

Tel: +44 (0) 20 7466 5109

Tel: +44 (0) 20 7466 5111

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 also lends to 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.

 

As previously announced, on January 2, Riverstone Holdings LLC, and their affiliate Riverstone Investment Group (collectively, "Riverstone") entered into a sub management agreement for RCOI with Breakwall Capital LP.  Breakwall is an independent asset manager regulated by the SEC as a Registered Investment Advisor. It is owned and operated by the former members of the Riverstone Credit Partners team.

 

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
PFUPPUAUGUPAURR
Riverstone Credit Opport... (LSE:RCOI)
Historical Stock Chart
From Jan 2025 to Feb 2025 Click Here for more Riverstone Credit Opport... Charts.
Riverstone Credit Opport... (LSE:RCOI)
Historical Stock Chart
From Feb 2024 to Feb 2025 Click Here for more Riverstone Credit Opport... Charts.