• Cory is one of the UK’s leading waste management and recycling companies, with over 125 years’ experience of operating on the River Thames
  • Riverside 2 is a development of strategically important waste processing infrastructure in the UK. The facility has been developed by Cory since 2018 and represents Cory’s commitment to helping the UK and London transition away from landfill and waste export


  • DC Advisory (DC) was appointed as financial advisor to Cory in connection with the development of Riverside 2 and structuring of the equity capital raise and debt financing
  • DC supported the equity raise process by the existing shareholders, including by providing complex capital structure analysis and equity focused process materials
  • DC ran a highly competitive financing process, which included several options for structure and pools of liquidity
  • DC supported Cory throughout the process and successfully delivered on several detailed work streams, including overall process management, equity and lender marketing materials, financial modelling, debt and hedge structuring and documentation negotiations
  • DC leveraged its extensive knowledge and experience of the Energy from Waste (EfW) market, as well as a range of complex energy and infrastructure project financings to successfully lead this process


  • In December 2022, Cory announced its equity capital raise and debt financing of Riverside 2
  • Riverside 2 will be one of the largest and most efficient EfW facilities in the UK, processing 650,000 tonnes of non-recyclable waste generating enough low carbon baseload electricity to power over 140,000 homes each year
  • This transaction demonstrates DC’s ongoing expertise in the Power Infrastructure sector, and further strengthens the firm’s experience in advising on complex transactions