Riverstone Credit Opps. Inc PLC Successful Realisation of Roaring Fork Loan (7268Q)
June 30 2022 - 1:00AM
UK Regulatory
TIDMRCOI
RNS Number : 7268Q
Riverstone Credit Opps. Inc PLC
30 June 2022
30 June 2022
Riverstone Credit Opportunities Income Plc
Successful Realisation of Roaring Fork Loan at 21.3 percent
IRR
Highly Attractive Realisation of Infrastructure Loan
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 Roaring Fork Midstream
at a 21.3 percent realised IRR and 1.16x realised MOIC.
In March 2021, RCOI committed $5.9 million for a first lien
delayed-draw term loan to sponsor-backed Roaring Fork Midstream, a
company which owns and operates pipeline and storage related
infrastructure moving natural gas and oil from the wellhead to
market.
On 28 June 2022, Roaring Fork fully refinanced this loan with a
new source of financing, resulting in a 21.3 percent realised IRR
and 1.16x realised MOIC for RCOI investors. This capital will now
be re-deployed in RCOI's attractive pipeline of infrastructure and
energy-transition credit opportunities, and green or
sustainability-linked loan structures will be prioritized.
Jamie Brodsky, Co-Head of Riverstone Credit, the Company's
Investment Manager said:
"The realisation of our investment in Roaring Fork marks the
third successful financing and realisation for the same sponsor
across three different companies, demonstrating our partnership
model and the highly attractive nature of our approach to
facilitating the buildout of developing assets. Alongside recent
investments in Streamline, Harland & Wolff and Circulus,
amongst others, this financing highlights our capacity to lend
across a diverse subset of companies in the energy transition and
decarbonisation value chain."
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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