REG - Riverstone Credit - Investment and Quarterly Update

Riverstone Credit Opportunities IncomeAnnouncement

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RNS Number : 7253D  Riverstone Credit Opps. Inc PLC  17 October 2025

17 October 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Riverstone Credit Opportunities Income

Investment and Quarterly Update

Riverstone Credit Opportunities Income ("RCOI" or the "Company"), the
LSE-listed energy infrastructure and energy-transition credit investor,
announces its portfolio performance for the quarter ended 30 September 2025.

 

Portfolio Highlights

NAV/share was $0.90 on 30 September 2025, remained steady over the quarter.

·    On 11 September 2025, the Company successfully realised its
sustainability-linked term loan to Max Energy Industrial Holdings at a 19
per-cent gross IRR, 15 per-cent net IRR, 1.49x gross MOIC and 1.39x net MOIC.

·    On 18 July 2025, the Company successfully realised its first lien
green term loan with Streamline Innovations at a 20 percent gross IRR, 15
percent net IRR, 1.33x gross MOIC and 1.25x net MOIC.

 

Portfolio Summary and Key Performance Indicators

 

·    Portfolio of 100% floating rate, short duration, senior secured
loans, from investing in companies engaged in driving forward the energy
transition

·    33.1% NAV total return(5) achieved since IPO in May 2019

·    40.4 cents in dividends paid since inception(6)

 

Cumulative Portfolio Summary

Unrealised Portfolio 1 

 Investment Name                         Subsector                Commitment Date  Cumulative Committed Capital ($mm)  Cumulative Invested Capital ($mm)  Gross Realised Capital ($mm)(1)  Gross Unrealised Value ($mm)  Gross Realised Capital & Unrealised Value ($mm)      % of Par as of 30 Sep 2025(2)  % of Par as of 30 Jun 2025(2)  30 Sep 2025 Gross MOIC  30 Sep 2025 Net MOIC
 Caliber Midstream(3)                    Infrastructure           Aug-19           4.0                                 4.0                                0.7                              0.6                           1.3                                                  0.57(4)                        0.57(4)                        0.32x                   0.07x
 Harland & Wolff Group Holdings PLC      Infrastructure Services  Mar-22           14.6                                14.6                               5.6                              5.0                           10.6                                                 5.02(4)                        4.90(4)                        0.73x                   0.58x
 Seawolf Water Resources                 Services                 Sept-22          9.0                                 9.0                                2.6                              11.2                          13.8                                                 11.18(4)                       11.11(4)                       1.53x                   1.41x
 Hoover Circular Solutions               Infrastructure Services  Nov-22           13.7                                13.7                               4.7                              14.4                          19.1                                                 100.02%                        99.95%                         1.39x                   1.27x
                                                                                   $41.3                               $41.3                              $13.5                            $31.2                         $44.7                                                                                                              1.08x                   0.94x

Realised Portfolio

 Investment Name              Subsector                     Commitment Date  Realisation Date  Cumulative Committed Capital ($mm)  Cumulative Invested Capital ($mm)  Gross Realised Capital ($mm)(1)  30 Sep 2025 Gross MOIC  30 Sep 2025 Net MOIC
 Rocky Creek Resources        Exploration & Production      Jun-19           Dec-19            6.0                                 4.3                                4.9                              1.15 x                  1.13 x
 CIG Logistics                Infrastructure Services       Jan-20           Jan-20            8.7                                 8.7                                8.9                              1.02 x                  1.02 x
 Mallard Exploration          Exploration & Production      Nov-19           Apr-20            13.8                                6.8                                7.7                              1.13 x                  1.12 x
 Market Based                 Multiple                      Aug-20           Nov-20            13.4                                13.4                               13.6                             1.01 x                  1.00 x
 Project Yellowstone          Infrastructure                Jun-19           Mar-21            5.8                                 5.8                                7.2                              1.23 x                  1.16 x
 Ascent Energy                Exploration & Production      Jun-19           Jun-21            13.3                                13.3                               16.1                             1.21 x                  1.13 x
 Pursuit Oil & Gas            Exploration & Production      Jul-19           Jun-21            12.3                                12.3                               15                               1.22 x                  1.14 x
 U.S. Shipping                Infrastructure Services       Feb-21           Aug-21            6.5                                 6.5                                7.3                              1.13 x                  1.10 x
 Aspen Power Partners         Infrastructure                Dec-20           Oct-21            6.9                                 3.4                                4.3                              1.27 x                  1.24 x
 Project Mariners             Infrastructure Services       Jul-19           Apr-22            13.2                                13.2                               17.6                             1.33 x                  1.21 x
 Roaring Fork Midstream       Infrastructure                Mar-21           Jun-22            5.9                                 5.9                                6.9                              1.16 x                  1.10 x
 FS Crude, LLC                Infrastructure                Mar-20           Sept-22           13.7                                13.7                               16.9                             1.23 x                  1.12 x
 EPIC Propane Pipeline, LP    Infrastructure                Dec-19           Sept-22           14.8                                14.8                               19.6                             1.32 x                  1.21 x
 Circulus Holdings, PBLLC     Infrastructure                Aug-21           Oct-22            12.3                                12.3                               14.0                             1.14 x                   1.10 x
 Hoover Circular Solutions    Infrastructure Services       Oct-20           Nov-22            15.4                                15.4                               17.0                             1.10 x                  1.01 x
 Streamline Innovations Inc.  Infrastructure Services       Nov-21           Jun-23            13.8                                6.9                                8.9                              1.29 x                  1.22 x
 Clean Energy Fuels Corp      Energy Transition             Dec-22           Dec-23            13.9                                13.9                               15.7                             1.14 x                  1.10 x
 EPIC Propane Pipeline, LP    Infrastructure                Sept-22          Apr-24            13.9                                13.9                               17.2                             1.24x                   1.18x
 Blackbuck Resources LLC      Infrastructure                Jun-21           Sept-24           11.5                                11.0                               16.1                             1.46x                   1.33x
 Streamline Innovations Inc.  Infrastructure Services       Jun-23           July-25           9.9                                 5.4                                7.1                              1.33x                   1.25x
 Imperium3NY LLC              Energy Transition             Apr-21           Sept-25           6.8                                 5.4                                6.7                              1.25x                   1.07x
 Max Midstream                Infrastructure                Dec-22           Sept-25           5.0                                 5.0                                7.5                              1.51x                   1.39x
                                                                                               $236.9                              $211.2                             $256.2                           1.21x                   1.14x

The Gross Realised Capital column includes interest, fee income, and principal
received. The Gross Unrealised Value column includes the amortization of OID,
accrued interest, fees and any unrealised change in the value of the
investment.

 

For Riverstone Credit Opportunities Income Plc:

Adam Weiss

+1 212 271 2953

 

 J.P. Morgan Cazenove (Corporate Broker)   +44 (0)20 7742 4000
 William Simmonds
 Jérémie Birnbaum
 James Bouverat (Sales)

 
Media Contacts:
Burson Buchanan
 Helen Tarbet     Tel: +44 (0) 20 7466 5109
 Henry Wilson     Tel: +44 (0) 20 7466 5111
 Nick Croysdill   Tel: +44 (0) 20 7466 5162
                  Email:
                  rcoi@buchanan.uk.com (mailto: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 also lends to 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.

 

As previously announced, on January 2, Riverstone Holdings LLC, and their
affiliate Riverstone Investment Group (collectively, "Riverstone") entered
into a sub management agreement for RCOI with Breakwall Capital LP.
Breakwall is an independent asset manager regulated by the SEC as a Registered
Investment Advisor. It is owned and operated by the former members of the
Riverstone Credit Partners team.

 

For further details, see https://www.riverstonecoi.com/
(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.

 

(#_ednref1) 1 Gross realised capital is total gross income realised on
invested capital.

(2) Includes fair market value of equity and rights where applicable as a
percentage of par.

(3) Includes Caliber MFC LLC equity, Caliber Midstream Term Loan & Priming
Facility.

(4) Reflects the total fair market value in millions.

(5) NAV total return equals cumulative paid dividend cents per share and NAV
per share as of 30 September 2025 divided by the opening capital net of share
issuance costs as of 28 May 2019.

(6) Reflects cumulative dividend cents per share declared as of 30 September
2025 and paid as of 30 September 2025.

( )

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