Riverstone Credit Opps. Inc PLC Edison update on Riverstone Credit
October 04 2022 - 7:25AM
RNS Non-Regulatory
TIDMRCOI
Riverstone Credit Opps. Inc PLC
04 October 2022
London, UK, 4 October 2022
Edison issues update on Riverstone Credit Opportunities Income
(RCOI)
Riverstone Credit Opportunities Income is a closed-end fund that
invests in mid-market energy company credit mostly via direct
loans. This is a niche sector of low loan to value, delayed draw
loans of relatively short duration, often employed as bridge loans
by the borrowers. RCOI can invest broadly across the sector but has
been repositioning towards entities building infrastructure and
providing infrastructure services as well as those focused on the
energy transition to zero carbon. Asset quality has been holding up
well and the last three loan realisations had gross IRRs of 14-21%,
while management sees a good pipeline. We note the fully funded
8.5% dividend yield and the 16% NAV discount. RCOI started a share
buyback programme in July, because the board believes the shares do
not reflect the portfolio value and high-performing strategy.
The shares are trading at a 16% discount to NAV with a trailing
dividend yield of 8.5%. RCOI has a policy of distributing all
income after expenses and taxes.
Click here to view the full report or here to sign up to receive
research as it is published.
All reports published by Edison are available to download free
of charge from its website
www.edisongroup.com
About Edison: E dison is a leading research and investor
relations consultancy, connecting listed companies to the widest
pool of global investors. By focusing on the volume and quality of
investors reached - across institutions, family offices, wealth
managers and retail investors - Edison can create and gauge intent
to purchase, even in the darkest pools of capital, and then make
introductions via non-deal roadshows, events or virtual
meetings.
Having been the first in-market 17 years ago, Edison now has
more than 100 analysts covering every economic sector.
Headquartered in London, Edison also has offices in New York,
Frankfurt, Amsterdam and Tel Aviv and a presence in Athens,
Johannesburg and Sydney.
Edison is authorised and regulated by the Financial Conduct
Authority .
Edison is not an adviser or broker-dealer and does not provide
investment advice. Edison's reports are not solicitations to buy or
sell any securities.
For more information, please contact Edison:
Pedro Fonseca +44 (0)20 3077 5700
investmenttrusts@edisongroup.com
Learn more at www.edisongroup.com and connect with Edison
on:
LinkedIn www.linkedin.com/company/edison-group-/
Twitter www.twitter.com/Edison_Inv_Res
YouTube www.youtube.com/edisonitv
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. 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.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
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
NRAUSAURUKURRAA
(END) Dow Jones Newswires
October 04, 2022 08:25 ET (12:25 GMT)
Riverstone Credit Opport... (LSE:RCOI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Riverstone Credit Opport... (LSE:RCOI)
Historical Stock Chart
From Jul 2023 to Jul 2024