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RCOI Riverstone Credit Opportunities Income Plc

0.9125
0.015 (1.67%)
24 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Riverstone Credit Opportunities Income Plc LSE:RCOI London Ordinary Share GB00BJHPS390 ORD USD0.01
  Price Change % Change Share Price Shares Traded Last Trade
  0.015 1.67% 0.9125 13,296 16:35:20
Bid Price Offer Price High Price Low Price Open Price
0.905 0.92
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 16.13M 12.85M 0.1415 6.36 81.72M
Last Trade Time Trade Type Trade Size Trade Price Currency
10:50:22 O 10,000 72.278 USD

Riverstone Credit Opport... (RCOI) Latest News (1)

Riverstone Credit Opport... (RCOI) Discussions and Chat

Riverstone Credit Opport... Forums and Chat

Date Time Title Posts
16/11/202215:54Riverstone Credit Opps11

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Riverstone Credit Opport... (RCOI) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
09:50:2372.2810,0000.00O
07:24:080.913,2960.00O

Riverstone Credit Opport... (RCOI) Top Chat Posts

Top Posts
Posted at 24/4/2024 09:20 by Riverstone Credit Opport... Daily Update
Riverstone Credit Opportunities Income Plc is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker RCOI. The last closing price for Riverstone Credit Opport... was US$0.90.
Riverstone Credit Opport... currently has 90,805,237 shares in issue. The market capitalisation of Riverstone Credit Opport... is £81,724,713.
Riverstone Credit Opport... has a price to earnings ratio (PE ratio) of 6.36.
This morning RCOI shares opened at -
Posted at 16/11/2022 15:54 by masurenguy
Hi Rambutan2 - you seem to be ploughing a lonely furrow here. This was brought to my attention by a brief mention in last weeks issue of MoneyWeek below. It looks interesting especially since I'm already invested in a couple of renewable energy shares and also in Polar Capital. Since they are listed on the LSE, why are their shares priced and traded in $US? I'm also unable to get an online quote from my broker so how have you made an investment here?

"Riverstone Credit Opportunities (LSE: RCOI), lends to a range of borrowers in the energy market, increasingly in clean energy. The managers behind the fund have a great record and many of the loans in the portfolio have been refinanced or repaid, frequently triggering early repayment fees. Riverstone is trading at a 24% discount to NAV with a 9% yield"
Posted at 27/10/2022 21:46 by rambutan2
Doing a solid job:

As of 30 September 2022, the unaudited net asset value per Ordinary Share, including net revenue for the quarter ended 30 September, was $1.10 ($1.02: 30 June 2022) an uplift of 7%.
Posted at 08/7/2021 22:06 by rambutan2
And interestingly, Polar Capital has taken a 5.4% stake from Weiss (an arb) who have reduced to 6.4%.
Posted at 08/7/2021 22:04 by rambutan2
Re post 4, it would appear that the shares went to which now holds 8.7%.
Posted at 08/7/2021 21:54 by rambutan2
Gone green(er) - its first sustainability-linked loan:

London, UK 2 July 2021: Riverstone Credit Opportunities Income Plc ("RCOI" or the "Company") has announced it has originated one new investment:

-- Blackbuck Resources LLC - RCOI participated in a $50.0 million first lien delayed-draw term loan to a sponsor-backed water infrastructure company focused on providing E&P operators with a one-stop shop for all things related to water management, including treatment, gathering, recycling, storage and disposal. At closing on 30 June 2021, $9.9 million was committed by RCOI and $8.9 million was drawn at closing.

The first lien term loan has a maturity of June 2024 and an estimated all-in yield to maturity of 11.9 percent for RCOI on a fully-drawn basis. The term loan is RCP's first sustainability-linked loan, whereby the loan pricing steps up if certain sustainability targets are not achieved. RCP intends to use similar lending structures for conventional energy infrastructure and infrastructure services companies going forward. More information on sustainability-linked loans can be found in the link below:
Posted at 08/7/2021 21:50 by rambutan2
Now out of E&P:

London, UK 28 June 2021: Riverstone Credit Opportunities Income Plc ("RCOI" or the "Company") has announced it has fully realised an investment:

Realisations

-- Project Chase Realisation - In July 2019, RCOI committed $12.3 million to a sponsor-backed E&P company with operations focused in the dry gas window of the Eagle Ford Basin. 30% of the loan was paid down in April 2021, and on 25 June 2021, the remainder was fully realised. This resulted in 19.8 percent realised IRR and 1.22x realised MOIC.

Our go-forward strategy is to focus on infrastructure, infrastructure services as well as energy transition assets. Following the Project Chase realisation and the Project Alp realisation that closed on 21 June 2021, RCOI will have no E&P exposure.
Posted at 10/6/2021 21:16 by rambutan2
So that's 6.9m shares gone into new hands, although nothing showing (as yet) on the advfn trades over the last week. And a decent realisation:

Riverstone Credit Opportunities Income Plc
Portfolio Update

London, UK 10 June 2021: Riverstone Credit Opportunities Income Plc ("RCOI" or the "Company") has announced it has the below update and has additionally realised one investment:

Riverstone-related Shareholdings' Update

Riverstone Credit Opportunities Income Plc ("RCOI" or the "Company") has been notified that Pierre F. Lapeyre, Jr. sold 2,597,680 ordinary shares, David M. Leuschen sold 2,576,669 ordinary shares, and Riverstone Holdings LLC sold 1,711,132 ordinary shares in the Company. These shares are part of the significant investment made by Riverstone at the time of the IPO and the sales were made in response to increased investor demand, facilitating the company's planned strategy to increase shares available to third party investors . Christopher Abbate and Jamie Brodsky, the key principals at Riverstone Credit Partners, still own all of their ordinary shares and collectively the credit team owns 2,353,900 ordinary shares or 2.6% of the shares outstanding.

Realisation

-- Project Alp Realisation - In June 2019, RCOI committed $13.3 million to a sponsor-backed E&P 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, and subsequently, RCOI entered a contract with a trade date of 19 May 2021 to sell the remainder of the loan to a separate third-party. The sale is expected to close the middle of June, resulting in approximately a 19.7% realised IRR and approximately a 1.21x realised MOIC.
Posted at 10/6/2021 21:10 by rambutan2
20 May 2021

Riverstone Credit Opportunities Income Plc
Interim Management Statement

London, UK 20 May 2021: Riverstone Credit Opportunities Income Plc ("RCOI" or the "Company") is issuing this Interim Management Statement ("IMS") for the period from 01 January 2021 to 31 March 2021 (the "Period").

Summary Performance

31 March 2021

Key Financials


NAV $95.56 million
NAV per share $1.04
Market capitalisation $80.56 million
Share Price $0.88
Total comprehensive income for the period $1.86 million

Quarterly Distribution

-- Riverstone Credit Opportunities Income Plc ("RCOI" or the "Company") is pleased to announce that the distribution for the period ending 31 March 2021 of 1.7 cents per share, has been declared by the Directors, payable on 25 June 2021 to holders of ordinary shares on the register at the close of business on 28 May 2021 (ex-distribution date is 27 May 2021).

-- The Company's quarterly factsheet...
Posted at 18/5/2021 04:36 by rambutan2
"...Bloomberg has identified 6 key energy transition sectors and RCOI is actively pursuing opportunities across the entire energy transition landscape. These include renewable energy, energy storage, carbon capture and storage (“CCS”), electrified transport, electrified heat, and hydrogen."
Posted at 18/5/2021 04:15 by rambutan2
The Company lends to companies working to drive change and deliver solutions across the energy sector, spanning renewable as well as conventional sources, with a primary focus on infrastructure assets. The Company’s aim is to build a portfolio that generates an attractive and consistent risk-adjusted return for investors, as well as drive positive action with regard to climate change by structuring loans as Green Loans or Sustainability-Linked Loans.

RCOI pays dividends quarterly in April, July, October and January. It has an 8–10% target annualised yield based on its $1.00 per share initial public offering (IPO) price.

The first continuation vote for the Company will be proposed at the AGM of the Company to be held in 2027, on the eighth anniversary of admission. (see also pg59-61 of prospectus)

No base management fee charged. A performance fee will be charged quarterly if return hurdles are achieved, with an annual reconciliation. There are 3 tiers of fees: 0% if distributable income is < 4%; 20% if distributable income is between 4-8% and 30% if distributable income is > 8%.The profit share is payable quarterly with an annual reconciliation in the last quarter of the year. The annual profit share payable is subject to a cap of 5% of net asset value and a potential adjustment in the event the Company suffers a capital loss. There is no catch up.

On December 7, 2022, the Company’s SPVs entered a senior secured RCF agreement for $15.0 million to enter into new commitments ahead of anticipated realisations, enabling the Company to minimise the drag on returns of uninvested capital. Pursuant to the RCF agreement, the interest rate per annum on each borrowing under the RCF can be referenced to SOFR + 6.50% with a 100bps SOFR floor.

Interview with the managers from May 2021:


Research notes (paid for):


E-mail: ir@riverstonecredit.com
Riverstone Credit Opport... share price data is direct from the London Stock Exchange

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