Eagle Point greenshoe lifts 5.375% notes due 2029 to $93.25 million

By Marisa Wong

Los Angeles, Jan. 28 – The underwriters of Eagle Point Credit Co. Inc.’s offering of 5.375% $25-par notes due 2029 (Egan-Jones: BBB+) partially exercised their over-allotment option to purchase an additional $6.25 million of the notes, lifting the total amount of the issuance to $93.25 million, according to a press release.

Eagle Point priced $87 million of the 5.375% seven-year notes at par of $25 on Jan. 13, as previously reported.

The deal included a $13 million 30-day greenshoe.

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 callable in whole or in part at par plus interest starting on Jan. 31, 2025.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.