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Latest Financials From Eagle Point Income

For those considering picking up some of the new term preferred shares from CLO owner Eagle Point Income Fund here is a link to the latest monthly recap from the company.

June report from Eagle Point Income (EIC)

As others have pointed out EIC is an owner of primarily debt tranches of CLOs (collateralized loan obligations). Debt tranches of the CLO are less risky than the equity tranches–CLO owners like Eagle Point Credit Company (ECC) are owners of equity tranches. Note that EIC can hold equity tranches of CLOs and has a current position of 26% equity tranches.

I will consider a partial position in this new issue once I see the pricing (late today) and full terms. I have shied away from the CLO owners for a year or two–but maybe now is the time for a small position.

3 thoughts on “Latest Financials From Eagle Point Income”

      1. Hi Tim, Let’s see how it trades.

        I have some BBB notes maturing on July 31 and this would be an ok replacement for them in my 5 year ladder. Interested in picking this name up at a discount which could happen depending on the fallout from the Fed meeting.

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