By Wendy Van Sickle
Columbus, Ohio, March 18 – Eagle Point Credit Co. Inc. priced $39 million of 6.75% $25-par notes due 2031 (Egan-Jones: BBB+), according to a news release Thursday.
There is a $5.85 million 30-day greenshoe.
The notes become callable on March 29, 2024.
Ladenburg Thalmann & Co. Inc. is the lead bookrunner for the offering. B. Riley Securities, Inc., Oppenheimer & Co. Inc., Incapital LLC and National Securities Corp. are joint bookrunners.
The notes are expected to be listed on the New York Stock Exchange under the symbol “ECCW.”
Proceeds will be used to acquire investments, to make distributions to stockholders and for general working capital purposes.
Eagle Point is a Greenwich, Conn.-based externally managed, non-diversified closed-end management investment company.
| Issuer: | Eagle Point Credit Co. Inc.
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| Issue: | $25-par notes
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| Amount: | $39 million
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| Greenshoe: | $5.85 million
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| Maturity: | March 31, 2031
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| Lead bookrunner: | Ladenburg Thalmann & Co. Inc.
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| Joint bookrunners: | B. Riley Securities, Inc., Oppenheimer & Co. Inc., Incapital LLC and National Securities Corp.
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| Coupon: | 6.75%
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| Call: | Beginning March 29, 2024
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| Pricing date: | March 18
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| Settlement date: | March 25
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| Rating: | Egan-Jones: BBB+
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| Symbol: | NYSE: ECCW
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