Oxford Lane board OKs repurchase program for 7.5%, 8.125% preferreds

By Tali Rackner

Norfolk, Va., Dec. 2 – Oxford Lane Capital Corp. said its board of directors has authorized a program for the purpose of repurchasing up to $25 million worth of the outstanding shares of 7.5% series 2023 term preferred stock and up to $25 million worth of the outstanding shares of 8.125% series 2024 term preferred stock, according to a press release.

Under this program, the company may repurchase the preferred stock in the open market from time to time through June 30, 2016.

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

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