Oxford Lane sets up preferred stock repurchase program

Chicago, May 21 – Oxford Lane Capital Corp. announced that the company’s board of directors has authorized a program for repurchasing up to $40 million worth of the outstanding shares of several series of its preferred stock, according to a press release.

Oxford Lane’s 7.5% series 2023 term preferred stock, 6.75% series 2024 term preferred stock and 6.25% series 2027 term preferred stock are part of the program.

The company may repurchase its outstanding preferred stock in the market from time to time through Sept. 30.

Oxford Lane is a Greenwich, Conn.-based closed-end management investment company.

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