Eagle Point Credit to Redeem 8.00% Series F Preferred Shares
Eagle Point Credit Company Inc. is electing to redeem in full 2,486,244 outstanding shares of its 8.00% Series F Term Preferred Stock due 2029.
Rhea-AI Filing Summary
Eagle Point Credit Company Inc. is electing to redeem in full 2,486,244 outstanding shares of its 8.00% Series F Term Preferred Stock due 2029. The company has notified Equiniti Trust Company, LLC, as redemption agent, to provide formal redemption notices to holders.
The redemption is expected to be completed on January 30, 2026. Holders will receive a redemption price of $25 per share plus all unpaid dividends and distributions accumulated to, but excluding, the redemption date, without interest.
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Insights
ECC is retiring an entire preferred series at par plus accrued dividends.
Eagle Point Credit Company Inc. has elected to redeem all 2,486,244 outstanding shares of its 8.00% Series F Term Preferred Stock due 2029. The redemption is expected to occur on January 30, 2026, at a price of $25 per share plus unpaid dividends and distributions accumulated to, but excluding, the redemption date.
This action simplifies the company’s capital structure by eliminating a specific term preferred security with an 8.00% coupon. The net impact on overall leverage, interest expense, or common shareholders depends on how the company funds the redemption and any replacement capital, which is not detailed in the excerpt.
Preferred holders in this series are scheduled to receive cash at the stated redemption price and accrued amounts once the redemption is completed as described. Subsequent disclosures may clarify any new financing, if used, and how the redemption fits into broader balance sheet management.
8-K Event Classification
FAQ
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What did Eagle Point Credit Company Inc. (ECC) announce regarding its Series F preferred stock?
What is the redemption price for ECC’s 8.00% Series F Term Preferred Stock?
When does Eagle Point Credit (ECC) expect to complete the Series F preferred stock redemption?
Does this filing itself serve as the formal notice of redemption for ECC’s Series F preferred stock?
Which entity is acting as redemption agent for Eagle Point Credit’s (ECC) Series F preferred redemption?
AI-generated analysis. How Rhea-AI works. Not financial advice.