Riverstone Credit Opps. Inc PLC Successful Upsize of Loan to Blackbuck Resources (7613R)
July 08 2022 - 2:00AM
UK Regulatory
TIDMRCOI
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 Henry Tel: +44 (0) 20 7466 5109 Tel: +44
Wilson Jon Krinks Verity (0) 20 7466 5111 Tel: +44 (0) 20
Parker 7466 5199 Tel: +44 (0) 20 7466 5197
Email: 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/ .
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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END
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