Riverstone Credit Opps. Inc PLC Portfolio Update (2044D)
June 28 2021 - 2:00AM
UK Regulatory
TIDMRCOI
RNS Number : 2044D
Riverstone Credit Opps. Inc PLC
28 June 2021
Riverstone Credit Opportunities Income Plc
Portfolio Update
London, UK 28 June 2021: Riverstone Credit Opportunities Income
Plc ("RCOI" or the "Company") has announced it has fully realised
an investment:
Realisations
-- Project Chase Realisation - In July 2019, RCOI committed
$12.3 million to a sponsor-backed E&P company with operations
focused in the dry gas window of the Eagle Ford Basin. 30% of the
loan was paid down in April 2021, and on 25 June 2021, the
remainder was fully realised. This resulted in 19.8 percent
realised IRR and 1.22x realised MOIC.
Our go-forward strategy is to focus on infrastructure,
infrastructure services as well as energy transition assets.
Following the Project Chase realisation and the Project Alp
realisation that closed on 21 June 2021, RCOI will have no E&P
exposure.
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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END
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