Eagle Point Credit Company Inc. is a closed-end management investment company that specializes in investing in below investment grade debt securities. The company focuses on making investments in senior secured loans, mezzanine debt, and distressed debt securities issued by middle market companies. The company was founded in 2013 and is headquartered in Greenwich, Connecticut.
Eagle Point Credit Company has issued several series of notes, including the 5.375% Notes due 2026 (ECCV). These notes were issued in February 2021 and are senior unsecured debt obligations of the company. The notes are listed on the NYSE under the ticker symbol ECC.
The ECCV notes have a maturity date of February 28, 2026, and pay a fixed interest rate of 5.375% per year, paid quarterly. The notes are callable by the company at any time on or after February 28, 2024, at a price equal to their principal amount plus accrued and unpaid interest.
Investing in ECCV notes carries certain risks, including the credit risk of Eagle Point Credit Company itself, as well as risks related to the company's investments in below investment grade debt securities. The value of the notes may be affected by changes in interest rates, credit spreads, and market conditions.
Overall, Eagle Point Credit Company's focus on investing in below investment grade debt securities carries inherent risks, but may offer the potential for higher returns. Investors considering investing in the company's ECCV notes should carefully evaluate their investment objectives, risk tolerance, and the risks associated with the investment before making a decision.
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