Eagle Point Credit Company Prices Notes Offering


GREENWICH, Conn.--(BUSINESS WIRE)--Eagle Point Credit Company Inc. (NYSE:ECC, NYSE:ECCA, NYSE:ECCZ) today announced that it has priced a public offering of $24,998,750 aggregate principal amount of its 7.00% Notes due 2020 (the “2020 Notes”), which will result in net proceeds to the Company of approximately $24.0 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company. The 2020 Notes will be issued under the same indenture and first supplemental indenture, each dated as of December 4, 2015, between the Company and American Stock & Trust Company LLC, pursuant to which the Company previously issued $25 million aggregate principal amount of the 2020 Notes in December 2015. The 2020 Notes will mature on December 31, 2020 and may be redeemed in whole or in part at any time or from time to time at the Company’s option on or after December 31, 2017. The 2020 Notes will be issued in minimum denominations of $25 and integral multiples of $25 in excess thereof and bear interest at a rate of 7.00% per year, payable quarterly, with the first interest payment on 2020 Notes sold in this offering occurring on June 30, 2016. The 2020 Notes are listed on the New York Stock Exchange under the symbol “ECCZ.”


The Company is a non-diversified, closed-end management investment company. The Company’s investment objectives are to generate high current income and 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. The principals of Eagle Point Credit Management LLC are Thomas P. Majewski, Daniel W. Ko and Daniel M. Spinner.

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