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Riverstone Credit Opportunities Income PLC - energy infrastructure and energy-transition credit investor - Announces secondary investment worth $9 million in a bundle of private securities in Seawolf Water Resources. Seawolf provides water solutions to energy industry. Investment includes a first lien term loan as well as preferred stock and common equity. Says collectively, the investment is ‘at a significant discount to market value.’ Investment was completed on September 26. Loan matures in March 2026. Estimated all-in yield to maturity on the loan of 10.6% to Riverstone Credit. Following investment, company's portfolio nearly 90% committed.
Co-Head Christopher Abbate said: ‘We are pleased to announce this attractive investment opportunity in the water infrastructure services sector with a counterparty that the company has followed closely for many years. We therefore view the current opportunity to participate in a term loan, preferred stock and common equity investment at a significant discount to market value as an extremely compelling proposition for our shareholders with considerable upside potential.’
Current stock price: $0.83
12-month change: down 4.6%
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