Collateralized loan obligation (CLO) owner OFS credit (OCCI) has announced a new offering of term preferred shares.
The issue is to be unrated. Shares will pay a monthly dividend.
The intended ticker will be OCCIO.
The mandatory redemption date has not yet been announced, but I suspect it will be between 2026 and 2028.
The company has 1 other issue of term preferred outstanding which can be seen here. The company may redeem some or all of this 6.875% issue (OCCIP) with proceeds of this new issue.
Fabrib was right on top of this.