QUANTUMONLINE.COM SECURITY DESCRIPTION: Eagle Point Credit Company, Inc., 6.75% Series D Cumulative Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 11/29/2026 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 6.75% ($1.6875 per annum or $0.140625 per month) will be paid monthly on the last calendar day of each 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).
The Company is required to redeem the preferred at $25 per share plus accrued and unpaid dividends if they fail to maintain an asset coverage ratio of 200% (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 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.
