24th Dec 2019 11:12
(Alliance News) - Riverstone Credit Opportunities Income PLC said on Friday last week that it made two new transactions in the US alongside its affiliated private vehicles during the fourth quarter of 2019.
Riverstone Credit invests through a portfolio of senior secured loans, with a focus on the energy industry.
The first transaction had Riverstone Credit commit USD13.8 million in a USD65 million first-lien delayed-draw term loan. This was for an unnamed exploration and production company focused in Weld County, Colorado.
The loan has a maturity date of November 2022.
The second deal was a commitment of USD14.8 million into a USD75 million first-lien delayed-draw term loan for an unnamed midstream company, which will transport propane across the US state of Texas from Corpus Christi to the export market in Houston.
This loan has a maturity date of December 2022, with a one-year extension option.
Following these transactions, Riverstone Credit said it is now 82% committed to investments and 41% invested.
Shares in Riverstone Credit - which is based in London - were untraded on Tuesday, last quoted at USD0.94.
By Dayo Laniyan; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
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