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IN BRIEF: Riverstone Credit closes USD15 million credit facility

9th Dec 2022 13:29

Riverstone Credit Opportunities Income PLC - energy infrastructure and energy-transition credit investor - Closes USD15.0 million senior secured revolving credit facility on December 7 with funds advised by BC Partners Credit. Facility enables company to deploy increased quantity of capital to its pipeline of "sustainability-linked and green loan opportunities". Expects facility to enable Riverstone Credit to enter new commitments ahead of anticipated realisations, enabling the fund to minimise the drag on returns of uninvested capital. The facility carries interest rate of Secured Overnight Financing Rate plus 650.

Managing director of company's investment manager, Riverstone Credit, Christopher Abbate said: "We believe the RCF will provide RCOI with significant flexibility in managing the challenges posed by our ample pipeline of investment opportunities and our short duration lending model. It is envisaged that the RCF will enable the Company to maintain full investment for longer while also amplifying portfolio returns, meaning the financial benefits of the RCF will far exceed facility costs."

Current stock price: 0.94 cents, up 3.3% on Friday

12-month change: up 5.6%

By Chris Dorrell, Alliance News reporter

Comments and questions to [email protected]

Copyright 2022 Alliance News Ltd. All Rights Reserved.


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