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Eagle Point Credit to price $50 million in $25-par notes due 2028
By James McCandless
San Antonio, April 17 – Eagle Point Credit Co. Inc. plans to price $50 million in $25-par notes due 2028, according to filings with the Securities and Exchange Commission.
Ladenburg Thalmann, B. Riley FBR, Oppenheimer & Co., BB&T Capital Markets, Incapital and National Securities Corp. are the underwriters.
The deal was announced Tuesday morning.
Eagle Point plans to use the net proceeds from the offering to acquire investments and for general working capital purposes. Some proceeds may be used to repay outstanding indebtedness.
The notes will be listed on the New York Stock Exchange under the ticker “ECCX.”
Eagle Point is a Greenwich, Conn.-based non-diversified, closed-end management investment company that manages a portfolio of CLOs.
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