28 Jun 2021 07:00
Riverstone Credit Opportunities IncomeΒ Plc
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Portfolio Update
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London, UK 28 June 2021: Riverstone Credit Opportunities Income Plc ("RCOI" or the "Company") has announced it has fully realised an investment:
Realisations
Β§ Project Chase Realisation - In July 2019, RCOI committed $12.3 million to a sponsor-backed E&P company with operations focused in the dry gas window of the Eagle Ford Basin. 30% of the loan was paid down in April 2021, and on 25 June 2021, the remainder was fully realised. This resulted in 19.8 percent realised IRR and 1.22x realised MOIC.
Our go-forward strategy is to focus on infrastructure, infrastructure services as well as energy transition assets. Following the Project Chase realisation and the Project Alp realisation that closed on 21 June 2021, RCOI will have no E&P exposure.
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About Riverstone Credit Opportunities IncomeΒ Plc:
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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, which span conventional energy as well as low carbon and renewable sources. 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 a primary focus on infrastructure businesses and going forward those with de-carbonization strategies in North America. RCOI intends to create a diversified portfolio across various energy subsectors, commodity exposures, technologies and end-markets to provide natural synergies that aim to enhance the overall stability of the portfolio.
For further details, see https://www.riverstonecoi.com/.
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Neither theΒ contents of RCOI's websiteΒ norΒ theΒ contents ofΒ anyΒ website accessible from hyperlinks on the websitesΒ (or anyΒ otherΒ website) isΒ incorporated into, orΒ forms part of, this announcement.
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Media Contacts
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ForΒ Riverstone Credit Opportunities IncomeΒ Plc:
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Jingcai Zhu
+1 212 271 6261
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