Riverstone Cred Regulatory News (RCOI)

24 September 2024

Riverstone Credit Opportunities Income Plc

Successful Realisation of Investment in Blackbuck Resources

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 sustainability-linked, first lien term loan in Blackbuck Resources (or "Blackbuck") at a 17.3 percent gross IRR and a 13.2 percent net IRR and 1.46x gross MOIC and a 1.33x net MOIC.

On 30 June 2021, RCOI committed $9.9 million in a first lien, sustainability-linked term loan to Blackbuck, a sponsor-backed, water infrastructure company focused on the Permian Basin. At the time, this investment represented the inaugural sustainability-linked term loan structured and executed by the Investment Manager.

The Company remains focused on the realisation of RCOI's assets and returning capital to shareholders. Since the Company's AGM on 22 May 2024 and adoption of the Wind-down Investment Policy, the Company has completed an initial return of capital by way of a compulsory redemption. As announced on 10 September 2024, the Company has redeemed approximately 25 per cent of the Company's Ordinary Shares with 68,157,036 Ordinary Shares outstanding following the redemption. Following this Realisation, the Company's portfolio is comprised of seven remaining positions with an average remaining duration of 1.4 years. Furthermore, the Company has an estimated unencumbered cash and cash equivalents position of approximately $9.3 million.

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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.

As previously announced, on January 2, Riverstone Holdings LLC, and their affiliate Riverstone Investment Group (collectively, "Riverstone") entered into a sub management agreement for RCOI with Breakwall Capital LP. Breakwall is an independent asset manager regulated by the SEC as a Registered Investment Advisor. It is owned and operated by the former members of the Riverstone Credit Partners team.

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.