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Eagle Point Credit’s 6.75% $25-par 10-year notes list on NYSE
By Stephanie N. Rotondo
Seattle, Aug. 9 – Eagle Point Credit Co. Inc.’s $27.5 million of 6.75% $25-par notes due 2027 were admitted to the New York Stock Exchange on Wednesday.
The ticker symbol is “ECCY.”
The deal priced Aug. 1, coming upsized from $25 million. Price talk on the baby bonds was 6.875%.
Ladenburg Thalmann & Co. Inc. is the bookrunner. FBR Capital Markets & Co., Oppenheimer & Co. Inc. and National Securities Corp. are acting as lead managers.
There is a $4.125 million over-allotment option, upsized from $3.75 million.
Interest will be payable on the last day of March, June, September and December.
The notes become redeemable after three years.
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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