REG - Riverstone Credit - Successful Upsize of Loan to Blackbuck Resources

Riverstone Credit Opportunities IncomeAnnouncement

08/07/2022 07:00

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RNS Number : 7613R  Riverstone Credit Opps. Inc PLC  08 July 2022

8 July 2022

Riverstone Credit Opportunities Income Plc

Successful Upsize of Loan to 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 upsize of its investment in Blackbuck Resources
("Blackbuck"), a sponsor-backed infrastructure company focused on full-cycle
water management solutions, including treatment, gathering, recycling, storage
and disposal.

In June 2021, RCOI committed $9.9 million for a first lien
sustainability-linked delayed-draw term loan to Blackbuck. On 30 June 2022,
Blackbuck upsized the loan by $7.0 million, bringing the total facility to
$57.0 million. In aggregate, $11.6 million is now committed by RCOI. The
proceeds, along with incremental equity, will be used to fund growth capex
associated with new contracts.

Sustainable Fitch, a division of Fitch Group focused on ESG, provided a Second
Party Opinion ("SPO") on the sustainability-linked loan to Blackbuck. The SPO
considers the loan to be aligned with the five pillars of the LSTA
Sustainability-Linked Loan Principles.

Christopher Abbate at RCOI said:

"Blackbuck Resources is doing important work in helping its customers to
reduce their carbon footprint by piping wastewater away for disposal and
recycling, as opposed to trucking it.  In 2022 alone, Blackbuck is expected
to get over 200,000 trucks off the road via their infrastructure. The upsize
of our investment provides further demonstration of our ongoing strategic
rebalancing towards loans focused on decarbonization of the energy business
and construction of new sustainable infrastructure."

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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