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RNS Number : 0328G Riverstone Credit Opps. Inc PLC 11 November 2022
11 November 2022
Riverstone Credit Opportunities Income Plc
Proposed Debt Refinancing of Harland & Wolff
Riverstone Credit Opportunities Income ("RCOI" or the "Company"), the
LSE-listed energy infrastructure and energy-transition credit investor, notes
the announcement published on 9 November by Harland & Wolff Group Holdings
PLC ("Harland & Wolff"), a London-listed company focused on strategic
infrastructure projects, that it has entered into an exclusive term sheet with
Astra Asset Management ("Astra") for the proposed refinancing of Harland &
Wolff's credit lines.
Completion of the arrangements envisaged by the term sheet with Astra would
result in a full and attractive refinancing of the first lien green term loan
initially funded by Riverstone Credit Partners in March 2022. RCOI has to date
committed $14.1 million of the current $56 million loan.
The Company looks forward to providing a further update in due course.
Jamie Brodsky, Co-Head of Riverstone Credit, the Company's Investment Manager
said:
"We were pleased to see the dual announcements from Harland & Wolff and
Astra regarding the expected refinancing of Riverstone's credit facility.
Consistent with our stated strategy of providing attractive development
capital to dynamic companies with the expectation of refinancing events as
borrowers mature, we see this as further validation of the progress and
potential of Harland & Wolff."
For Riverstone Credit Opportunities Income Plc:
Adam
Weiss
+1 212 271 2953
Media Contacts:
Buchanan
Helen Tarbet Tel: +44 (0) 20 7466 5109
Henry Wilson Tel: +44 (0) 20 7466 5111
Jon Krinks Tel: +44 (0) 20 7466 5199
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.
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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