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Eagle Point Credit to partially redeem series A preferred shares due 2022

Eagle Point Credit Co. Inc. will redeem 909,000 of its 7.75% series A term preferred shares due 2022 on June 28.

The redemption price per share will be equal to $25 plus an amount equal to all unpaid dividends and distributions accumulated to but excluding the redemption date.

Eagle Point reported first-quarter GAAP net income of $45 million, or $1.93 per weighted average common share.