The new Eagle Point Credit Company (ECC) 6.75% baby bonds (ECCW) are NOW trading on the NYSE.
They have traded in a range of $24.60-$24.85 and are at $24.80 at this moment.
These particular baby bonds have a longer maturity–in 2031 – than those we have seen in the past and because of this they likely will be more interest rate sensitive than those issues with shorter dated maturities.
Bought a smallish amount at 24.91. Not very interested in this one, I’m just playing the game.