Eagle Point Credit Co 8.00% Series F Term Preferred Stock Due 01/31/2029 (ECCF)
NYSE · · CUSIP 269809877
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Security Details

Coupon Rate
8.00%
Liquidation Preference
$25.00
Call Price
$25.00
Call / Redemption Date
1/18/2026
Maturity Date
1/31/2029
Distribution Period
M
Rate Type
Fixed
Annual Distribution
2
Distribution Dates
Last business day of the Month
Credit Ratings
Moody's NR · S&P NR (1/16/2024)
Tax-Advantaged Dividends
Variable

Security Profile

Security Type
Traditional Preferred Stock »
CUSIP
269809877
IPO
1/12/2024 · $25/unit
Previous Symbol
EPCCP (changed 1/29/2024)
Parent Company
Eagle Point Credit Company, Inc (ECC)
Business: Eagle Point Credit Company, Inc. 8.00% Series F Term Preferred Stock Due 2029 liquidation preference $25 per share, redeemable at the issuer's option on or after 01/18/2026 at $25 per share plus accrued and unpaid dividends, and maturing 01/31/2029. <p> Cumulative distributions of 8.00% per annum ($2.00 per annum or $0.1666667 per month) will be paid monthly on the last business day of the month to holders of record on the record date fixed by the board, not more than 20 days or less than 7 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). <p> Dividends paid by preferreds issued by closed-end funds can be 0% to 100% eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and can also be 0% to 100% eligible for the dividends received deduction for corporate holders (see page 77 of the prospectus for further information). <p> If the Company fails to maintain asset coverage of at least 200% as of the close of business on the last business day of any calendar quarter and such failure is not cured by the close of business on the date that is 30 days following the filing date of the Asset Coverage Cure Date, then the Company will be required to redeem, within 90 days of the Asset Coverage Cure Date, shares of preferred stock, including Series F Term Preferred Stock, at least equal to the lesser of (1) the minimum number of shares of preferred stock that will result in the fund having asset coverage of at least 200% and (2) the maximum number of shares of preferred stock that can be redeemed out of funds legally available for such redemption. (see prospectus for further information). This security was not rated by Moody’s or S&P at the time of its IPO. This security was rated as BBB by Egan-Jones Ratings Co. at the date of its IPO. In regard to the payment of distributions and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
Notes: The 8.00% Series F Term Preferred Stock were issued on 01/12/2024 and are expected to begin trading on the NYSE within 30 days of their issue date. The shares may start interim trading on the Other OTC market but we are not aware that they have done so to date.

Company Contact

CEO
Thomas P. Majewski
CFO
Kenneth P. Onorio
Headquarters
20 Horseneck Lane, Greenwich, CT 06830
Phone
203-862-3150
Investor Relations
ICR, Inc. · 203-340-8510 · ir@EaglePointCredit.com
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