Eagle Point Credit offers series F preferred stock due 2029

By Mary Katherine Stinson

Lexington, Ky., Jan. 11 – Eagle Point Credit Co. Inc. is offering $25-par series F term preferred stock due 2029 (Egan-Jones: BBB), according to a 424B2 filing with the Securities and Exchange Commission.

The company is authorized to offer up to 20 million shares. The deal will include a greenshoe.

The stock will be redeemable beginning on a date in 2026 at the $25 liquidation preference as well as a mandatory redemption on a date in 2029.

Ladenburg Thalmann & Co. Inc., B. Riley Securities, Inc. and Piper Sandler & Co. are joint lead bookrunners with InspereX LLC and Wedbush Securities Inc. as lead managers.

Dechert LLP is legal counsel for the issuer, and the underwriters are represented by Duane Morris LLP.

Eagle Point intends to list the preferreds on the New York Stock Exchange under the ticker symbol “ECCF.”

Proceeds will be used to acquire investments 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.