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Eagle Point Credit starts preferred stock offering

Eagle Point Credit Co. Inc. has commenced a public offering of 400,000 shares of series B term preferred stock due 2026.

The underwriters will be granted a 30-day option to buy up to 60,000 additional preferred shares to cover any overallotments.

Eagle Point Credit plans to use the offering's net proceeds as general working capital and to add investments in line with its investment objectives and strategies.

Keefe Bruyette & Woods is the book-running manager for the offering, while FBR Capital Markets & Co., Ladenburg Thalmann & Co. Inc., MUFG Securities Americas Inc. and Wunderlich Securities Inc. are co-managers.