REG - Riverstone Credit - Portfolio Update

Riverstone Credit Opportunities IncomeAnnouncement

24/09/2024 07:00

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RNS Number : 3252F  Riverstone Credit Opps. Inc PLC  24 September 2024

24 September 2024

Riverstone Credit Opportunities Income Plc

Successful Realisation of Investment in Blackbuck Resources

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 sustainability-linked,
first lien term loan in Blackbuck Resources (or "Blackbuck") at a 17.3 percent
gross IRR and a 13.2 percent net IRR and 1.46x gross MOIC and a 1.33x net
MOIC.

On 30 June 2021, RCOI committed $9.9 million in a first lien,
sustainability-linked term loan to Blackbuck, a sponsor-backed, water
infrastructure company focused on the Permian Basin. At the time, this
investment represented the inaugural sustainability-linked term loan
structured and executed by the Investment Manager.

The Company remains focused on the realisation of RCOI's assets and returning
capital to shareholders. Since the Company's AGM on 22 May 2024 and adoption
of the Wind-down Investment Policy, the Company has completed an initial
return of capital by way of a compulsory redemption. As announced on 10
September 2024, the Company has redeemed approximately 25 per cent of the
Company's Ordinary Shares with 68,157,036 Ordinary Shares outstanding
following the redemption. Following this Realisation, the Company's portfolio
is comprised of seven remaining positions with an average remaining duration
of 1.4 years. Furthermore, the Company has an estimated unencumbered cash and
cash equivalents position of approximately $9.3 million.

 

For Riverstone Credit Opportunities Income Plc:

 Adam Weiss  Tel: +1 212 271 2953

Media Contacts:
 Buchanan
 Helen Tarbet    Tel: +44 (0) 20 7466 5109
 Henry Wilson    Tel: +44 (0) 20 7466 5111
 Verity Parker   Tel: +44 (0) 20 7466 5197
                 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 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.

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.

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