Eagle Point Credit Company Inc. Announces Offering of Notes
March 17 2021 - 4:49PM
Business Wire
Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC, ECCB,
ECCX, ECCY) today announced that it has commenced an underwritten
public offering of unsecured notes due 2031 (the “2031 Notes”). The
2031 Notes will be issued in denominations of $25 and integral
multiples of $25 in excess thereof and are expected to pay interest
quarterly. The public offering price and other terms of the 2031
Notes are to be determined by negotiations between the Company and
the underwriters. The 2031 Notes are rated ‘BBB+’ by Egan-Jones
Ratings Company. In addition, the Company plans to grant the
underwriters a 30-day option to purchase additional 2031 Notes on
the same terms and conditions to cover overallotments, if any.
The 2031 Notes are expected to be listed on the New York Stock
Exchange and to trade thereon within 30 days of the original issue
date.
Ladenburg Thalmann & Co. Inc. is acting as the lead
bookrunner for the offering. B. Riley Securities, Inc., Oppenheimer
& Co. Inc., Incapital LLC and National Securities Corporation
are acting as joint bookrunners for the offering.
Investors should consider the Company’s investment
objectives, risks, charges and expenses carefully before investing.
The preliminary prospectus supplement dated March 17, 2021 and the
accompanying prospectus dated May 29, 2020, which have been filed
with the Securities and Exchange Commission (“SEC”), contain this
and other information about the Company and should be read
carefully before investing. The information in the preliminary
prospectus supplement, the accompanying prospectus and this press
release is not complete and may be changed. The preliminary
prospectus supplement, the accompanying prospectus and this press
release are not offers to sell these securities and are not
soliciting an offer to buy these securities in any state where such
offer or sale is not permitted.
A shelf registration statement relating to these securities is
on file with and has been declared effective by the SEC. The
offering may be made only by means of a prospectus and a related
prospectus supplement, copies of which may be obtained by writing
Ladenburg Thalmann & Co. Inc. at 640 Fifth Avenue, 4th Floor,
New York, New York 10019, by calling toll-free 1-800-573-2541 or by
sending an e-mail to: prospectus@ladenburg.com; copies may also be
obtained for free by visiting EDGAR on the SEC’s website at
http://www.sec.gov.
Egan-Jones Ratings Company is a nationally recognized
statistical rating organization (NRSRO). A security rating is not a
recommendation to buy, sell or hold securities, and any such rating
may be subject to revision or withdrawal at any time by the
applicable rating agency.
ABOUT EAGLE POINT CREDIT COMPANY
The Company is a non-diversified, closed-end management
investment company. The Company’s primary investment objective is
to generate high current income, with a secondary objective to
generate capital appreciation, primarily through investment in
equity and junior debt tranches of collateralized loan obligations.
The Company is externally managed and advised by Eagle Point Credit
Management LLC.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described in the
prospectus and the Company’s other filings with the SEC. The
Company undertakes no duty to update any forward-looking statement
made herein. All forward-looking statements speak only as of the
date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20210317005835/en/
Investor Relations: ICR 203-340-8510 ir@EaglePointCredit.com
www.eaglepointcreditcompany.com
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