Specialty finance company Eagle Point Credit Company (NYSE:ECC) will be issuing a new baby bond with a maturity date in 2028. They will issue 2,000,000 shares plus another 300,000 to be reserved for overallotments.
Pricing has not been announced as of yet, but the proceeds are going to be used to early call the ECCZ issue which matures in 2020. This issue became optionally callable on 12/31/2017.
Unfortunately we personally own a few hundred shares of the called issue meaning we will have to find a suitable replacement.