Eagle Point Credit Co. Files 8-K on Debt and Preferred Stock
Ticker: ECCW · Form: 8-K · Filed: Jan 10, 2025 · CIK: 1604174
| Field | Detail |
|---|---|
| Company | Eagle Point Credit Co Inc. (ECCW) |
| Form Type | 8-K |
| Filed Date | Jan 10, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $8.33, $8.43, $0.23, $0.27 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, preferred-stock, financing
TL;DR
Eagle Point Credit Co. updated on its various debt and preferred stock series, including interest rates and maturity dates.
AI Summary
Eagle Point Credit Company Inc. filed an 8-K on January 10, 2025, reporting on various series of preferred stock and notes. The filing details several series of preferred stock, including Series C due 2031 (6.50%), Series D (6.75%), Series F due 2029 (8.00%), and Series G (6.75%). It also covers several series of notes, including those due 2028 (6.6875%), 2031 (6.75%), 2029 (5.375%), and 2030 (7.75%).
Why It Matters
This filing provides investors with crucial details about the company's outstanding debt and preferred stock obligations, including interest rates and maturity dates, which are key factors in assessing financial risk and return.
Risk Assessment
Risk Level: medium — The filing details multiple series of debt and preferred stock, indicating a complex capital structure that could carry inherent financial risks.
Key Numbers
- 6.50% — Series C Preferred Stock Interest Rate (Matures in 2031)
- 6.75% — Series D Preferred Stock Interest Rate (No maturity date specified in this excerpt)
- 8.00% — Series F Preferred Stock Interest Rate (Matures in 2029)
- 6.6875% — Notes Due 2028 Interest Rate (Represents a debt obligation)
- 5.375% — Notes Due 2029 Interest Rate (Represents a debt obligation)
Key Players & Entities
- Eagle Point Credit Company Inc. (company) — Registrant
- January 10, 2025 (date) — Filing Date
- 6.50% (dollar_amount) — Interest rate for Series C Preferred Stock
- 2031 (date) — Maturity year for Series C Preferred Stock
- 6.75% (dollar_amount) — Interest rate for Series D Preferred Stock
- 8.00% (dollar_amount) — Interest rate for Series F Preferred Stock
- 2029 (date) — Maturity year for Series F Preferred Stock
- 6.6875% (dollar_amount) — Interest rate for Notes due 2028
- 2028 (date) — Maturity year for Notes
- 5.375% (dollar_amount) — Interest rate for Notes due 2029
FAQ
What is the total principal amount of each series of preferred stock and notes outstanding?
The filing does not specify the total principal amounts for each series of preferred stock or notes.
Are there any covenants or restrictions associated with these debt and preferred stock issuances?
This 8-K filing does not detail any specific covenants or restrictions associated with the mentioned securities.
What is the purpose of this 8-K filing for Eagle Point Credit Company Inc. on January 10, 2025?
The purpose of this 8-K filing is to report on various series of preferred stock and notes, including their interest rates and maturity dates, under the 'Other Events' item.
Does the filing indicate any changes in the terms of these securities?
The filing reports on the existing terms of the securities, but does not explicitly state any changes to those terms.
What is the relationship between Eagle Point Credit Co Inc. and Eagle Point Credit Co LLC?
Eagle Point Credit Co LLC was the former company name, with a date of name change to Eagle Point Credit Co Inc. on March 31, 2014.
Filing Stats: 515 words · 2 min read · ~2 pages · Grade level 8.4 · Accepted 2025-01-10 17:25:46
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share ECC New York Stock Exchan
- $8.33 — ock as of December 31, 2024 was between $8.33 and $8.43. In addition, for the quarte
- $8.43 — December 31, 2024 was between $8.33 and $8.43. In addition, for the quarter ended De
- $0.23 — f our net investment income was between $0.23 and $0.27 per share of our common stock
- $0.27 — investment income was between $0.23 and $0.27 per share of our common stock and manag
- $0.14 — ange of our realized losses was between $0.14 and $0.10 per share of our common stock
- $0.10 — r realized losses was between $0.14 and $0.10 per share of our common stock. SIGNATU
Filing Documents
- tm252656d1_8k.htm (8-K) — 41KB
- 0001104659-25-002615.txt ( ) — 290KB
- ecc-20250110.xsd (EX-101.SCH) — 5KB
- ecc-20250110_def.xml (EX-101.DEF) — 29KB
- ecc-20250110_lab.xml (EX-101.LAB) — 39KB
- ecc-20250110_pre.xml (EX-101.PRE) — 27KB
- tm252656d1_8k_htm.xml (XML) — 11KB
01
Item 8.01. Other Events. Management's unaudited estimate of the range of the net asset value per share of our common stock as of December 31, 2024 was between $8.33 and $8.43. In addition, for the quarter ended December 31, 2024, management's unaudited estimate of the range of our net investment income was between $0.23 and $0.27 per share of our common stock and management's unaudited estimate of the range of our realized losses was between $0.14 and $0.10 per share of our common stock. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, Eagle Point Credit Company Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Eagle Point Credit Company Inc. Date: January 10, 2025 By: /s/ Kenneth P. Onorio Kenneth P. Onorio Chief Financial Officer and Chief Operating Officer