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Eagle Point Credit Company Inc. (ECC) is a closed-end fund that was launched and managed by Eagle Point Credit Management LLC. Founded on March 24, 2014, and domiciled in the United States, the company specializes in investments within the fixed income markets. Specifically, ECC invests in equity and junior debt tranches of collateralized loan obligations (CLOs), which are primarily composed of below investment grade U.S. senior secured loans.
As an externally managed, non-diversified closed-end management investment company, Eagle Point Credit Company Inc. aims to generate high, risk-adjusted returns for its investors by focusing on a portfolio of CLO securities. The company operates under a robust investment strategy designed to capitalize on the credit spread and structural protections offered by CLO equity and debt investments.
The fund has demonstrated solid performance in recent periods, thanks in part to its strategic selection of assets and active management. ECC's approach allows it to effectively navigate market fluctuations and maximize returns. Furthermore, their focus on below investment grade loans provides a unique opportunity for higher yields, despite the associated risks.
ECC's management team leverages its extensive expertise in structured credit and credit markets to assess and select high-quality investments. This careful selection process has contributed to the fund's consistent income generation and overall financial health.
In addition to its financial performance, Eagle Point Credit Company Inc. has established significant partnerships within the industry, enhancing its market presence and operational efficiency. The company's commitment to transparency and shareholder value is evident in its regular updates and comprehensive financial disclosures.
Overall, Eagle Point Credit Company Inc. stands out as a key player in the fixed income market, continually striving to deliver strong returns for its investors through strategic investments and expert management.
Eagle Point Credit Company Inc. (NYSE: ECC) is launching an offering of 7.00% Convertible and Perpetual Preferred Stock, aiming to raise around $91 million through the sale of up to 4,000,000 shares. The Preferred Stock offers a 7.00% annual dividend rate, is rated 'BBB' by Egan-Jones Ratings Company, and can be converted into common stock or cash.
Eagle Point Credit Management has announced financial results for its Eagle Point Institutional Income Fund for the initial operational period from June 1, 2022, to December 31, 2022. The Fund's net asset value per share decreased slightly to $9.97 as of December 31, 2022, from $10.00 on June 1, 2022, but it paid total distributions of $0.455 per share for 2022. In 2023, the Fund has already paid an additional $0.152 per share, equating to an 8.5% annualized distribution rate. The Fund primarily invests in senior secured loans, aiming for stable income for investors despite a volatile macroeconomic environment.
Eagle Point Credit Management has been recognized as the 'Best U.S. CLO Equity Investor' in a Creditflux survey involving 242 CLO industry experts. Garnering 30% of votes among 27 firms, this recognition highlights the effectiveness of its long-term investment strategies. Earlier this year, Eagle Point Credit Company (NYSE: ECC) also earned the title of 'Best Closed-End CLO Fund,' reflecting a strong performance in asset management, with over $5.9 billion managed as of September 2021.
Eagle Point Credit Company has been awarded the title of “Best Closed-End CLO Fund” by Creditflux at their Manager Awards in London on September 8. This recognition is based on data from January 2020 to March 2021, focusing on the change in value of eligible funds during a period of uncertainty in global markets. CEO Thomas Majewski expressed pride in the team’s efforts that led to this achievement, highlighting the company’s commitment to generating high current income and capital appreciation through investments in collateralized loan obligations.
Eagle Point Credit Company reported a strong fiscal year 2020, with a net asset value (NAV) increasing to $11.18 per share, up 32% from Q3. The company generated a net investment income (NII) of $0.24 per share in Q4, despite a net loss of $0.80 due to realized capital losses. GAAP net income for Q4 was $95.2 million, or $2.98 per share. The Company deployed $10.4 million in capital and received $27.6 million in cash distributions in Q4. As of February 9, 2021, the estimated NAV per share is between $11.95 and $12.05, with $29.5 million in cash available for new investments.
Eagle Point Credit Company reported its financial results for Q3 2020, highlighting a net income of $44.5 million, or $1.40 per common share. The net asset value (NAV) per share increased to $8.45, reflecting a 13% rise from Q2. The company deployed $27.2 million in capital and received $19.7 million in cash distributions during the quarter. As of October 31, 2020, NAV was estimated between $8.53 and $8.63, supported by a 50% increase in cash distributions compared to Q3. The effective yield of the CLO equity portfolio was 11.48% as of September 30, 2020.
Eagle Point Credit Company (NYSE:ECC) announced three distributions of $0.08 per share on common stock, scheduled for January 29, February 26, and March 31, 2021, with record dates preceding each payment. Additionally, distributions of $0.161459 per share on its 7.75% Series B Term Preferred Stock due 2026 will also be paid on the same dates. The common stock distributions are derived from net investment income and may include capital gains or return of capital. Full tax characteristics will be reported on Form 1099 post-2020 calendar year.
Eagle Point Credit Company plans to report its financial results for Q3 2020 on November 17, 2020, before market opening. A conference call discussing these results will be held at 10:00 a.m. Eastern Time, hosted by CEO Thomas P. Majewski and CFO Kenneth P. Onorio. Investors can participate by phone or online, with details available on the company’s website. The company aims to generate high current income and capital appreciation primarily through collateralized loan obligations. Monthly portfolio information is accessible on their website.
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