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Eagle Point Credit Co., 7.00% Notes due 12/31/2020
Ticker Symbol: ECCZ* CUSIP: 269809208 Exchange: NYSE
* NOTE: This security is no longer trading as of 5/24/2018
Security has been Called for: Thursday, May 24, 2018
4/24/2018 -- Eagle Point Credit Company Inc. announced today that it will redeem its 7.00% Notes due 2020 (NYSE: ECCZ). The Company will redeem 100%, or $59,998,750 aggregate principal amount, of the issued and outstanding Notes on May 24, 2018, following which the Notes will be delisted from the New York Stock Exchange. The redemption price per Note will be $25 plus accrued and unpaid interest through, but excluding, the Redemption Date. The redemption of the Notes is expected to result in interest savings through the original maturity date of the Notes, but will also accelerate the amortization of the remaining deferred issuance costs related to the issuance of the Notes, resulting in an increase in related non-cash expense in the period the Notes are redeemed. The Notes should be presented and surrendered by mail or by hand by the registered holder thereof at the office of the paying agent, American Stock Transfer & Trust Company, LLC, 6201 15th Avenue, Brooklyn, NY 11219, Corporate Trust Office. Questions related to the notice of redemption and related materials should be directed to American Stock Transfer & Trust Company, LLC via telephone at (800) 937-5449.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Eagle Point Credit Company. Inc., 7.00% Notes due 2020, issued in $25 denominations, redeemable at the issuer's option on or after 12/31/2017 at $25 per note plus accrued and unpaid interest, and maturing 12/31/2020. Interest distributions of 7.00% per annum ($1.75 per annum or $0.4375 per quarter) will be paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date that will be 3/15, 6/15, 9/15 & 12/15 respectively (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. This security was not rated by Moody’s or S&P at the time of its IPO. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (ECC)
IPO - 12/1/2015 - 1.00 Million Notes @ $25.00/note.
Link to IPO Prospectus
Market Value $24.5 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 20 Horseneck Lane, Greenwich, CT 06830 |
| Main Phone Number |
203-862-3150 |
| Fax Number |
Not Available |
| Investor Relations
ICR, Inc.
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203-340-8510
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| CEO - Thomas P. Majewski |
CFO - Kenneth P. Onorio |
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