While it is strange to have a announced new issue late in the day we had one today as Eagle Point Income Company (EIC) announced they would be selling a new issue of term preferred stock.
The issue will have a mandatory redemption date in 2028.
The issue will trade under ticker EICB when it begins to trade on the NYSE.
EIC already has a 5% term preferred outstanding and it can be seen here.
Yield talk is in the 7.75% area.
EIC should not be confused with Eagle Point Credit Company (ECC). Same manager, but different company.
Thanks to Larry Rodbard for picking up on this late day announcement.