REG - Riverstone Credit - Sustainability-Linked Infrastructure Investment

Riverstone Credit Opportunities IncomeAnnouncement

23/01/2023 07:00

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RNS Number : 4533N  Riverstone Credit Opps. Inc PLC  23 January 2023

23 January 2023

Riverstone Credit Opportunities Income Plc

New Sustainability-Linked Energy Infrastructure Investment

Riverstone Credit Opportunities Income ("RCOI" or the "Company"), the
LSE-listed energy infrastructure and energy-transition credit investor, is
pleased to announce that Riverstone Investment Group LLC, the Company's
investment manager has executed a new $28.6 million sustainability-linked,
first lien term loan (the "Term Loan") to a subsidiary of Max Energy
Industrial Holdings US LLC ("MAX"). At close on 30 December 2022, RCOI
committed $5.0 million. With this investment, RCOI is 102% committed and
approaching 100% invested following a draw on its recently announced revolving
credit facility. The portfolio remains almost exclusively comprised of green
and sustainability-linked loans.

MAX is developing the first carbon-neutral crude oil export terminal on the
Gulf Coast of Texas which it believes will lead to increased market share as
crude consumers globally seek to reduce their overall carbon footprint. The
first lien floating rate term loan has a maturity of 3 January 2024, with
annual renewals for a maximum of 3 years in total, and a cash coupon paid of
SOFR+650 bps.

Christopher Abbate, Managing Director of Riverstone Credit, said:

"We are pleased to provide this sustainability-linked financing to MAX so that
the company can help partners and customers meet their sustainability goals
through access to valuable carbon-neutral energy infrastructure. Given the
strong asset coverage and short duration, the investment represents an
excellent addition to RCOI's fully invested portfolio that is now almost
exclusively comprised of independently accredited green and
sustainability-linked loans."

 

For Riverstone Credit Opportunities Income Plc:

Adam
Weiss
                +1 212 271 2953

J.P. Morgan Cazenove (Corporate Broker):
 Jérémie Birnbaum (Corporate Finance)       +44 0 (207) 742 4000
 James Bouverat / Liam MacDonald-Raggett (Sales)

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/) .

 

About Max Energy

 

Max Energy is creating a modern and evolved Energy Asset and Trading Company.
Throughout its development, it will instill innovation, forward-thinking, and
new solutions for its markets and customers.  As the world's energy needs and
requirements are rapidly changing, Max Energy is prepared to offer
value-driven solutions for today and the future.  Through its subsidiary Max
Midstream, it operates a carbon neutral export terminal at the Port of
Calhoun, Texas and linking pipeline on the US Gulf Coast.

 

For further information about Max Energy and Max Midstream, visit
https://www.maxmidstream.com/ (https://www.maxmidstream.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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