Thursday 17th of February 2022 05:39:14 AM
Eagle Point Credit reports Q4 results
- Eagle Point Credit press release (NYSE:ECC): Q4 NII of $0.37
- NAV per common share of $13.39 as of December 31, 2021.
- NAV per common share is estimated to be between $13.42 and $13.52 as of January 31, 2022. At the midpoint of the range, this represents an increase of 0.6% from December 31, 2021.
- “We successfully completed underwritten offerings of 6.75% ECC PRD perpetual preferred stock and 5.375% ECCV notes, the latter of which was accomplished at our lowest cost of capital to date. The proceeds are being used to retire our higher-cost ECCB preferred stock, ECCY notes and half of our ECCX notes, enabling us to achieve significant savings moving forward. With 100% fixed-rate financing, no debt maturities prior to 2028 once we retire the ECCB preferred stock, and approximately $31.1 million in cash as of February 11, 2022, we remain well positioned to take advantage of additional investment opportunities as we seek to generate attractive risk-adjusted returns.” said Thomas Majewski, Chief Executive Officer