Last checked at 
21 Sep 2022 07:00
21 September 2022
Riverstone Credit Opportunities Income Plc
Successful Realisation of FS Crude Infrastructure Loan at 14.8 percent IRR
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 investment in FS Crude LLC at a 14.8 percent realised IRR and 1.23x realised MOIC.
In March 2020, RCOI committed $5.9 million for a first lien delayed-draw term loan to sponsor-backed FS Crude LLC, a company which provides crude gathering, storage and blending services to a diversified footprint of producers in the core of the Delaware Basin.
On 16 September 2022, FS Crude LLC fully refinanced this loan with a new source of financing, resulting in a 14.8 percent realised IRR and 1.23x realised MOIC for RCOI investors. This capital will now be re-deployed in RCOI's attractive pipeline of infrastructure and energy-transition credit opportunities.
Christopher Abbate, Co-Head of Riverstone Credit, the Company's Investment Manager said:
"This investment was made at the onset of the COVID-19 pandemic and, as a result, endured a significant amount of operational and financial volatility. By lending in a first-lien, senior secured position to a company backed by a very high quality financial sponsor, the investment was able to ride through this tumultuous period to a successful exit with an attractive rate of return."
For Riverstone Credit Opportunities Income Plc:
Adam Weiss +1 212 271 2953
Media Contacts:
Buchanan |
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Helen Tarbet Henry Wilson Jon Krinks Verity Parker | Tel: +44 (0) 20 7466 5109 Tel: +44 (0) 20 7466 5111 Tel: +44 (0) 20 7466 5199 Tel: +44 (0) 20 7466 5197 Email: rcoi@buchanan.uk.com |
About Riverstone Credit Opportunities Income Plc:
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.
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.