REG - Riverstone Credit - Portfolio Update

Riverstone Credit Opportunities IncomeAnnouncement

02/07/2021 07:00

RNS Number : 8753D
  
Riverstone Credit Opps. Inc PLC
  
02 July 2021
  
 

Riverstone Credit Opportunities Income Plc 
 
Portfolio Update
 
London, UK 2 July 2021: Riverstone Credit Opportunities Income Plc ("RCOI" or the "Company") has announced it has originated one new investment: 
§ Blackbuck Resources LLC - RCOI participated in a $50.0 million first lien delayed-draw term loan to a sponsor-backed water infrastructure company focused on providing E&P operators with a one-stop shop for all things related to water management, including treatment, gathering, recycling, storage and disposal. At closing on 30 June 2021, $9.9 million was committed by RCOI and $8.9 million was drawn at closing.
The first lien term loan has a maturity of June 2024 and an estimated all-in yield to maturity of 11.9 percent for RCOI on a fully-drawn basis. The term loan is RCP's first sustainability-linked loan, whereby the loan pricing steps up if certain sustainability targets are not achieved. RCP intends to use similar lending structures for conventional energy infrastructure and infrastructure services companies going forward. More information on sustainability-linked loans can be found in the link below:  https://www.lsta.org/content/sustainability-linked-loan-principles-sllp/
 
About Riverstone Credit Opportunities Income Plc:
 
RCOI seeks to generate consistent Shareholder returns predominantly in the form of income distributions, principally by making senior secured loans to small and middle-market energy companies, which span conventional energy as well as low carbon and renewable sources. The investment strategy is predicated on asset-based lending, with conservative loan-to-value ratios and structural protective features to mitigate risk. The Company will invest broadly across energy subsectors globally, with a primary focus on infrastructure businesses and going forward those with de-carbonization strategies in North America. RCOI intends to create a diversified portfolio across various energy subsectors, commodity exposures, technologies and end-markets to provide natural synergies that aim to enhance the overall stability of the portfolio.
For further details, see 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.
 
Media Contacts
 
For Riverstone Credit Opportunities Income Plc:
 
Jingcai Zhu
+1 212 271 6261
 

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