REG - Riverstone Credit - Successful Realisation of Infrastructure Loan

Riverstone Credit Opportunities IncomeAnnouncement

21/09/2022 07:00

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RNS Number : 0515A  Riverstone Credit Opps. Inc PLC  21 September 2022

 

21 September 2022

Riverstone Credit Opportunities Income Plc

Successful Realisation of FS Crude Infrastructure Loan at 14.8 percent IRR

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 investment in FS Crude
LLC at a 14.8 percent realised IRR and 1.23x realised MOIC.

In March 2020, RCOI committed $5.9 million for a first lien delayed-draw term
loan to sponsor-backed FS Crude LLC, a company which provides crude gathering,
storage and blending services to a diversified footprint of producers in the
core of the Delaware Basin.

On 16 September 2022, FS Crude LLC fully refinanced this loan with a new
source of financing, resulting in a 14.8 percent realised IRR and 1.23x
realised MOIC for RCOI investors. This capital will now be re-deployed in
RCOI's attractive pipeline of infrastructure and energy-transition credit
opportunities.

Christopher Abbate, Co-Head of Riverstone Credit, the Company's Investment
Manager said:

"This investment was made at the onset of the COVID-19 pandemic and, as a
result, endured a significant amount of operational and financial volatility.
By lending in a first-lien, senior secured position to a company backed by a
very high quality financial sponsor, the investment was able to ride through
this tumultuous period to a successful exit with an attractive rate of
return."

 

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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