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Security Details
- Coupon Rate
- 6.25%
- Liquidation Preference
- $25.00
- Call Price
- $25.00
- Call / Redemption Date
- 2/28/2023
- Maturity Date
- 2/28/2027
- Distribution Period
- M
- Rate Type
- Fixed
- Annual Distribution
- 1.5625
- Distribution Dates
- Last business day of the month
- Credit Ratings
- Moody's NF · S&P NF (4/21/2025)
- Tax-Advantaged Dividends
- Variable
Security Profile
Security has been called for June 1, 2026.
- CUSIP
- 691543607
- Market Cap
- Micro Cap
- IPO
- 2/6/2020 · $25/share
- Previous Symbol
- OXCPP (changed 2/21/2020)
- Parent Company
- Oxford Lane Capital Corp. (OXLC)
Fund Description: Oxford Lane Capital Corp., 6.25% Term Preferred Series 2027 liquidation preference $25 per share, redeemable at the issuer's option on or after 2/28/2023 at $25 per share plus accrued and unpaid dividends, and with a stated maturity of 2/28/2027. <p> Cumulative distributions of 6.25% per annum ($1.5625 per annum or $0.130208333 per month) will be paid monthly on last business day of each month to holders of record on the record date fixed by the board, not more than 20 days or less than 10 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 S-37 of the prospectus for further information).<p> In the event that the issuer fails to maintain asset coverage of at least 200% as of the close of business on the last business day of a calendar quarter, the shares may become subject to mandatory redemption of at least a portion of the shares (see prospectus for further information). <p> This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends 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: April 27, 2026 -- GREENWICH, Conn., April 27, 2026 (GLOBE NEWSWIRE) -- Oxford Lane Capital Corp. (NasdaqGS: OXLC, OXLCP, OXLCL, OXLCO, OXLCZ, OXLCN, OXLCI, OXLCG and OXLCM) (the “Company,” “we,” “us” or “our”) announced today that it has called for redemption and will redeem all of the issued and outstanding shares of the Company’s 6.25% Series 2027 Term Preferred Stock (the “Shares”), which are traded on the Nasdaq Global Select Market under the ticker OXLCP. The Company will redeem all 724,806 Shares on June 1, 2026 (the “Redemption Date”), following which the Shares will be delisted from the Nasdaq Global Select Market. The Shares will be redeemed for a redemption price of $25 per Share (the “Redemption Price”) or an aggregate redemption price of approximately $18.1 million.<p>
May 21, 2020 -- Oxford Lane Capital Corp. (NasdaqGS: OXLC) (NasdaqGS: OXLCO) (NasdaqGS: OXLCM) (NasdaqGS: OXLCP) (“Oxford Lane” or the “Company”) today announced that the Company's board of directors has authorized a program for the purpose of repurchasing up to $40 million worth of the outstanding shares of the Company's 7.50% Series 2023 Term Preferred Stock, 6.75% Series 2024 Term Preferred Stock and 6.25% Series 2027 Term Preferred Stock (collectively, the "Preferred Stock"). Under this repurchase program, the Company may, but is not obligated to, repurchase its outstanding Preferred Stock in the open market from time to time through September 30, 2020. The timing and number of preferred shares to be repurchased will depend on a number of factors, including market conditions and alternative investment opportunities. In addition, any repurchases will also be conducted in accordance with the Investment Company Act of 1940, as amended. There are no assurances that the Company will engage in any repurchases.
Company Contact
- CEO
- Scott Burrows
- CFO
- Cameron Goldade
- Headquarters
- Suite 4000, 585 – 8th Avenue S.W., Calgary, Alberta, Canada T2P 1G1
- Phone
- 403-231-7500 · Toll-Free 888-880-7404
- Fax
- 403-237-0254
- Investor Relations
- Chelsy Hoy · 403-231-3156 · investor-relations@pembina.com