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Eagle Point Credit offers series D perpetual preferred stock
By Marisa Wong
Los Angeles, Nov. 17 – Eagle Point Credit Co. Inc. is offering $25-par series D perpetual preferred stock (Egan-Jones: BBB), according to a 424B2 filing with the Securities and Exchange Commission.
The deal will include a 30-day greenshoe.
Ladenburg Thalmann & Co. Inc. is the lead bookrunner with B. Riley Securities, Inc., InspereX LLC, Wedbush Securities Inc. and William Blair & Co., LLC as joint bookrunners.
Eagle Point intends to list the preferreds on the New York Stock Exchange under the ticker symbol “ECCD.”
Proceeds will be used to acquire investments, for general working capital purposes, including making distributions, and to redeem all or a portion of the company’s outstanding series B term preferred stock.
The closed-end management investment company is based in Greenwich, Conn.
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