Regulatory Filings • Jun 30, 2022
Regulatory Filings
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RNS Number : 7268Q
Riverstone Credit Opps. Inc PLC
30 June 2022
30 June 2022
Riverstone Credit Opportunities Income Plc
Successful Realisation of Roaring Fork Loan at 21.3 percent IRR
Highly Attractive Realisation of Infrastructure Loan
Riverstone Credit Opportunities Income ("RCOI" or the "Company"), the LSE-listed energy infrastructure and energy-transition credit investor, is pleased to announce the successful realisation of its investment in Roaring Fork Midstream at a 21.3 percent realised IRR and 1.16x realised MOIC.
In March 2021, RCOI committed $5.9 million for a first lien delayed-draw term loan to sponsor-backed Roaring Fork Midstream, a company which owns and operates pipeline and storage related infrastructure moving natural gas and oil from the wellhead to market.
On 28 June 2022, Roaring Fork fully refinanced this loan with a new source of financing, resulting in a 21.3 percent realised IRR and 1.16x realised MOIC for RCOI investors. This capital will now be re-deployed in RCOI's attractive pipeline of infrastructure and energy-transition credit opportunities, and green or sustainability-linked loan structures will be prioritized.
Jamie Brodsky, Co-Head of Riverstone Credit, the Company's Investment Manager said:
"The realisation of our investment in Roaring Fork marks the third successful financing and realisation for the same sponsor across three different companies, demonstrating our partnership model and the highly attractive nature of our approach to facilitating the buildout of developing assets. Alongside recent investments in Streamline, Harland & Wolff and Circulus, amongst others, this financing highlights our capacity to lend across a diverse subset of companies in the energy transition and decarbonisation value chain."
For Riverstone Credit Opportunities Income Plc:
Adam Weiss +1 212 271 2953
| # Buchanan | |
| # Helen Tarbet # Henry Wilson # Jon Krinks # Verity Parker |
# Tel: +44 (0) 20 7466 5109 # Tel: +44 (0) 20 7466 5111 # Tel: +44 (0) 20 7466 5199 # Tel: +44 (0) 20 7466 5197 # Email: [email protected] |
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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