GREENWICH, Conn.–(BUSINESS WIRE)–Eagle Point Income Company Inc. (the “Company”) (NYSE:EIC) today is pleased to announce the declaration of distributions on shares of the Company’s common stock and the closing of a $30 million revolving credit facility.
DISTRIBUTIONS
The Company has declared three separate distributions of $0.1326 per share on its common stock, payable on each of October 31, 2019, November 29, 2019 and December 31, 2019 to stockholders of record as of October 11, 2019, November 12, 2019 and December 12, 2019, respectively. The following schedule applies to the distributions:
|
Record Date |
Payable Date |
Amount per common share |
|
October 11, 2019 |
October 31, 2019 |
$0.1326 |
|
November 12, 2019 |
November 29, 2019 |
$0.1326 |
|
December 12, 2019 |
December 31, 2019 |
$0.1326 |
Distributions on common stock are generally paid from net investment income (regular interest and dividends) and may also include capital gains and/or a return of capital. The specific tax characteristics of the distributions will be reported to the Company’s stockholders on Form 1099 after the end of the 2019 calendar year.
CREDIT FACILITY
On September 27, 2019, the Company entered into a Credit Agreement with Societe Generale that established a revolving credit facility (the “Facility”) of up to $30,000,000. The Company has not borrowed any amounts under the Facility as of the date of this press release.
ABOUT EAGLE POINT INCOME COMPANY
The Company is a publicly-traded, non-diversified, closed-end management investment company. The Company’s investment objective is to generate high current income, with a secondary objective to generate capital appreciation by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments (primarily via minority ownership positions). The Company is externally managed and advised by Eagle Point Income Management LLC. The Company makes a monthly estimate of NAV and certain additional financial information available to investors via its website (www.eaglepointincome.com). This information includes (1) an estimated range of the Company’s NII and realized capital gains or losses per share of common stock for each calendar quarter end, generally made available within the first fifteen days after the applicable calendar month end, (2) an estimate of the Company’s NAV per share of common stock for the prior month end and certain additional portfolio-level information, generally made available within the first fifteen days after the applicable calendar month end, and (3) with respect to each calendar quarter end, an updated estimate of the Company’s NAV per share of common stock and NII and realized capital gains or losses for the applicable quarter, if available.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the prospectus and the Company’s other filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Contacts
Investor Relations:
ICR
203-340-8510
[email protected]
www.eaglepointincome.com
