Riverstone Credit Opps. Inc PLC Quarterly Factsheet and Portfolio Update (6560Z)
14 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMRCOI
RNS Number : 6560Z
Riverstone Credit Opps. Inc PLC
14 January 2020
Riverstone Credit Opportunities Income Plc
Quarterly Factsheet and Portfolio Update
London, UK 14th January 2020: Riverstone Credit Opportunities
Income Plc ("RCOI" or the "Company") is pleased to announce that
the Fact Sheet for the quarter ended 30 September 2019 is now
available on its website https://www.riverstonecoi.com/.
In addition, the Company announces it has realized an investment
and executed a new transaction:
-- Project Shiner - $6mm first lien commitment made in June 2019
with a July 2021 maturity has been repaid early by the
sponsor-backed operator. The Company received $4.9mm on the $4.3mm
invested (as at December 31, 2019) which represented a 49.1% IRR
and a 1.15x Multiple on Invested Capital.
-- Project Beach II - RCOI purchased from the market an
allocation in a first lien term loan that was previously originated
by and currently in the portfolio of Riverstone's private credit
funds. The loan is to a sponsor-backed services company that is a
leading, independent transloader of proppant in the US. At closing
in January 2020, $8.7mm was committed by RCOI. The first lien term
loan has a stated maturity of June 2020 and an expected all-in
yield to maturity of 14.4 per cent for RCOI. on a fully-drawn
basis.
Following these transactions, RCOI is 84 per cent. committed and
48 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 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:
Daniel Lim
+1 212 271 6266
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END
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