Eagle Point Credit (ECC, ECCC, ECCX) said late Wednesday it has priced an underwritten public offering of $100 million of its 7.75% notes due 2030.
The notes will bear interest payable quarterly starting March 31, 2025. The company said the notes are callable at its option starting June 30, 2027, and are rated 'BBB+' by Egan-Jones.
Underwriters have been granted a 30-day option to buy up to an additional $15 million in notes.
Net proceeds from the offering, which is expected to close Dec. 10, are estimated to be about $96.5 million.
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