Eagle Point greenshoe exercised, lifts 6.75% notes to $44.85 million

By Devika Patel

Knoxville, Tenn., April 5 – Underwriters for Eagle Point Credit Co. Inc.’s 6.75% $25-par notes fully exercised their $5.85 million greenshoe in full, lifting the total deal size to $44.85 million, according to an 8-K filed with the Securities and Exchange Commission.

As previously reported, Eagle Point previously priced $39 million of the notes due March 31, 2031.

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.

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