By Wendy Van Sickle
Columbus, Ohio, Jan. 13 – Eagle Point Credit Co. Inc. priced $87 million of 5.375% seven-year notes (Egan-Jones: BBB+) at par of $25 on Thursday, according to an FWP filing with the Securities and Exchange Commission.
The deal includes a $13 million 30-day greenshoe.
The notes are callable in whole or in part at par plus interest starting on Jan. 31, 2025.
Ladenburg Thalmann & Co. Inc. is the lead bookrunner with B. Riley Securities, Inc., InspereX LLC, Wedbush Securities Inc. and Oppenheimer & Co. Inc. as joint bookrunners.
The notes are expected to be listed on the New York Stock Exchange within 30 days of the original issue date under the symbol “ECCV.”
Proceeds will be used to acquire investments, to make distributions to stockholders and for general working capital purposes.
The closed-end management investment company is based in Greenwich, Conn.
| Issuer: | Eagle Point Credit Co. Inc.
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| Amount: | $87 million
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| Greenshoe: | $13 million
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| Issue: | Notes
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| Maturity: | Jan. 31, 2029
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| Bookrunners: | Ladenburg Thalmann & Co. (lead), B. Riley Securities, Inc., InspereX LLC, Wedbush Securities Inc. and Oppenheimer & Co. Inc.
|
| Coupon: | 5.375%
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| Price: | Par of $25
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| Yield: | 5.375%
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| Call feature: | At par starting Jan. 31, 2025
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| Trade date: | Jan. 13
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| Settlement date: | Jan. 24
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| Rating: | Egan-Jones: BBB+
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| Listing: | NYSE: ECCV
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| Cusip: | 269809885
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