Riverstone Credit Opportunities Income PLC - closed-ended investment company based in London - Originates one new investment and partially realises another.
Participates in a USD165 million first lien term loan to a private midstream company that provides long haul marine transportation services for chemical, petroleum, and clean petroleum product cargoes. At closing on Wednesday, USD6.5 million was committed by Riverstone Credit Opportunities. The first lien term loan has a maturity of February 2024 and an expected all-in yield to maturity of 11.6% on a fully-drawn basis.
Adds that, following a sale leaseback in the first quarter of 2021, 15% of outstanding principal of a first lien term loan for a privately-owned company that provides vessel and logistics services, along with interest and fees at the 109 call premium, was repaid. The loan initially closed in July 2019. Riverstone Credit Opportunities' remaining commitment is USD10.1 million.
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Year-to-date change: up 10%.
By Lucy Heming;Â lucyheming@alliancenews.com
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Riverstone Cred (RCOI)