Riverstone Credit Opps. Inc PLC Portfolio Update (5675X)
20 Dicembre 2019 - 8:00AM
UK Regulatory
TIDMRCOI
RNS Number : 5675X
Riverstone Credit Opps. Inc PLC
20 December 2019
Riverstone Credit Opportunities Income Plc
Portfolio Update
London, UK 20 December 2019: Riverstone Credit Opportunities
Income Plc ("RCOI" or the "Company") has announced that it has
originated and executed two new transactions together with its
affiliated private vehicles during Q4 2019:
-- Project Ducks - RCOI participated in a $65 million first lien
delayed-draw term loan for a sponsor-backed exploration and
production company with operations focused in Weld County,
Colorado, which is in the Denver-Julesburg Basin. At closing, $13.8
million was committed by RCOI. The first lien term loan has a
maturity of November 2022 and an expected all-in yield to maturity
of 13.6 per cent. on a fully-drawn basis.
-- Project Knox - RCOI participated in a $75 million first lien
delayed-draw term loan for a sponsor-backed midstream company that
will provide propane transportation from the Corpus Christi, Texas
area to the export market in Houston, Texas. At closing, $14.8
million was committed by RCOI. The first lien term loan has a
maturity of December 2022 with a 1-year extension option and an
expected all-in yield to maturity of 11.1 per cent. on a
fully-drawn basis.
Following the closing of these transactions, RCOI is 82 per
cent. committed and 41 per cent. invested. Capital that has been
committed but not yet invested is generating income through undrawn
fees. The team continues to actively evaluate a pipeline of
additional transactions.
- Ends -
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. 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 an initial focus on
North America. RCOI intends to create a diversified portfolio
across basins, commodities, and end-markets to provide natural
synergies and hedges that could enhance the overall stability of
the portfolio.
For further details, see 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:
Daniel Lim
+1 212 271 6266
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END
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