Riverstone Credit Opps. Inc PLC Portfolio Update (8753D)
July 02 2021 - 1:00AM
UK Regulatory
TIDMRCOI
RNS Number : 8753D
Riverstone Credit Opps. Inc PLC
02 July 2021
Riverstone Credit Opportunities Income Plc
Portfolio Update
London, UK 2 July 2021: Riverstone Credit Opportunities Income
Plc ("RCOI" or the "Company") has announced it has originated one
new investment:
-- Blackbuck Resources LLC - RCOI participated in a $50.0
million first lien delayed-draw term loan to a sponsor-backed water
infrastructure company focused on providing E&P operators with
a one-stop shop for all things related to water management,
including treatment, gathering, recycling, storage and disposal. At
closing on 30 June 2021, $9.9 million was committed by RCOI and
$8.9 million was drawn at closing.
The first lien term loan has a maturity of June 2024 and an
estimated all-in yield to maturity of 11.9 percent for RCOI on a
fully-drawn basis. The term loan is RCP's first
sustainability-linked loan, whereby the loan pricing steps up if
certain sustainability targets are not achieved. RCP intends to use
similar lending structures for conventional energy infrastructure
and infrastructure services companies going forward. More
information on sustainability-linked loans can be found in the link
below:
https://www.lsta.org/content/sustainability-linked-loan-principles-sllp/
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:
Jingcai Zhu
+1 212 271 6261
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