Eagle Point to sell $25 million of $25-par 10-year notes via Ladenburg Thalmann

By Stephanie N. Rotondo

Seattle, July 31 – Eagle Point Credit Co. Inc. announced an underwritten public offering of $25 million $25-par unsecured notes due 2027 (Expected ratings: Egan Jones: A-) in a press release on Monday.

Ladenburg Thalmann & Co. Inc. is the bookrunner. FBR Capital Markets & Co. Oppenheimer & Co. Inc. and National Securities Corp. are acting as lead managers. BB&T Capital Markets and Incapital LLC are co-managers.

There is a $3.75 million over-allotment option.

Interest will be payable on the last day of March, June, September and December.

The notes become redeemable in certain circumstances.

Proceeds will be used to acquire investments in accordance with investment objectives and strategies, 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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