BB&T Capital Markets Serves as a Co-Manager on Eagle Point Credit Company, Inc.’s Retail Notes Offering
BB&T Capital Markets’ Financial Services Group completed a retail notes “baby bond” offering for Eagle Point Credit Company, Inc., in the third quarter of 2017, helping to raise $31,625,000 in gross proceeds for our client. The notes pay an annual interest rate of 6.750%, and mature in 10 years.
Eagle Point Credit Company, Inc. intends to use the net proceeds for investments in accordance with its investment objectives and strategies, to make distributions to the stockholders, and for general corporate purposes. Total gross proceeds includes the exercise of the underwriters’ 30-day over-allotment option.
About the Companies
Eagle Point Credit Company is a non-diversified, closed-end management investment company. The Company’s investment objectives are to generate high current income and capital appreciation primarily through investment in equity and junior debt tranches of collateralized loan obligations. The Company is externally managed and advised by Eagle Point Credit Management LLC.
BB&T Capital Markets Financial Services Group has extensive experience providing community banks and thrifts, business development companies, and other specialty finance companies with a full range of public and private capital raising solutions, M&A advisory, fairness opinions and other strategic advisory services.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.