10th Jun 2021 14:29
Riverstone Credit Opportunities Income PLC - makes senior secured loans to small and middle-market energy companies - Realises 'project Alp' investment. In June 2019, RCOI committed USD13.3 million to a sponsor-backed exploration and production company with operations focused in the Northern Delaware Basin of New Mexico. In December 2020, RCOI sold 40% of the loan to a third-party. Now, RCOI has entered a contract with a trade date of May 19 to sell the remainder of the loan to a separate third-party.
The sale is expected to close in the middle of June, resulting in approximately a 20% realised internal rate of return and approximately a 1.21x realised multiple on invested capital.
Current stock price: USD0.84
Year-to-date change: up 23%
By Paul McGowan; [email protected]
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