RCS - Riverstone Credit - Edison update on Riverstone Credit

Riverstone Credit Opportunities IncomeAnnouncement

05/10/2022 09:31

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RNS Number : 7478B  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.

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All reports published by Edison are available to download free of charge from
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www.edisongroup.com (http://www.edisongroup.com)

About Edison: Edison 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
(https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000000MfYL6AAN) .

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Pedro Fonseca +44 (0)20 3077 5700 investmenttrusts@edisongroup.com
(mailto:investmenttrusts@edisongroup.com)

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