Riverstone Credit Opps. Inc PLC Edison issues review on Riverstone Credit Opps.
April 17 2023 - 1:00AM
RNS Non-Regulatory
TIDMRCOI
Riverstone Credit Opps. Inc PLC
17 April 2023
London, UK, 17 April 2023
Edison issues review on Riverstone Credit Opportunities Income
(RCOI)
Riverstone Credit Opportunities Income posted a healthy NAV
total return of 14.5% in FY22, benefiting from rising base rates,
as well as seven full exits (realised at an IRR of 14.3-32.5%) and
six new investments resulting in the recognition of call premiums
(exits) and upfront fees (investments). RCOI's focus on
short-duration lending allowed it to swiftly rebalance its
portfolio to energy-transition focused investments. The process is
now complete, with over 95% of the end-2022 portfolio being either
green loans or sustainability-linked loans (vs c 35% at
end-2021).
RCOI currently trades at a c 20% discount to NAV. This is
despite a relatively benign outlook for the oil and gas industry,
the continued solid performance of the portfolio and a good
dividend stream.
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