Eagle Point to invest in CLOs with proceeds from new notes

Chicago, Nov. 30 – Eagle Point Credit Co. Inc. announced plans to use proceeds from a planned $25 million public offering of series 2020 notes to acquire investments.

Equity and junior debt tranches of collateralized loan obligations are the primary holdings of the investment manager.

The notes will be issued at par of $25 and may be redeemed in whole or in part after Dec. 31, 2017, according to a news release.

Incapital LLC is the bookrunning manager.

Eagle Point is a non-diversified, closed-end management investment company based in Greenwich, Conn.

Its investment objective is to generate high current income and capital appreciation primarily through investment in equity and junior debt tranches of collateralized loan obligations.

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