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EDISON INVESTMENT RESEARCH LIMITED (LON:KEFI) Riverstone Credit Opportunities Income (RCOI): ESG repositioning continues

Directive transparence : information réglementée

03/05/2022 08:00

Edison Investment Research Limited
Riverstone Credit Opportunities Income (RCOI): ESG repositioning continues

03-May-2022 / 07:00 GMT/BST


 

London, UK, 3 May 2021

 

Riverstone Credit Opportunities Income (RCOI): ESG repositioning continues

Riverstone Credit Opportunities Income (RCOI) is a closed-end fund that invests in mid-market energy company credit mostly via direct loans. This is a niche sector of low loan to value, delayed draw loans of relatively short duration, often employed as bridge loans by the borrowers. RCOI can invest broadly across the sector but has been repositioning towards entities building infrastructure and providing infrastructure services as well as those focused on energy transition to zero carbon. Its most recent loans have been green certified and/or had sustainability-linked clauses with step-up penalties for non-compliance; all-in yields on new loans have remained good in the range of 11-13.5%. RCOI is trading at a significant discount to NAV (16%) despite an attractive, fully funded 8% dividend yield (RCOI pays all proceeds after expenses and with no fixed management charge) and all its investment exits have been profitable.

 

The shares are trading at a 16% discount to NAV with a trailing dividend yield of 8.0%. RCOI has a policy of distributing all income after expenses and taxes.  
 

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About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings.

Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information, please contact Edison:

Pedro Fonseca +44 (0)20 3077 5700 investmenttrusts@edisongroup.com

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1340305  03-May-2022 

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