CLO holder Eagle Point Income (EIC) has finally priced their new term preferred stock offering.
The issue prices at 5.00% for 1.22 million shares.
The issue is a monthly payor with the 1st dividend to be paid on 11/30/2021.
Optional early redemption starts 10/31/2023 with mandatory redemption on 10/26/2026.
Egan Jones rates the issue BBB for what that is worth.
The permanent ticker is to be EICA–the OTC grey market ticker has not been announced.