Latest news with #CLO
Fibre2Fashion
a day ago
- Business
- Fibre2Fashion
The Rise of 3D Printed Fashion and Wearable Technology
3D printed fashion and wearable technology are changing not only how clothing is made, but also how it is imagined, customised, and worn. These technologies are creating new opportunities for designers, manufacturers, and consumers alike, pushing the boundaries of creativity and functionality in ways that were not possible just a few years ago. Until recently, most digital fashion existed purely on screens with designers creating looks for games, virtual events, or digital avatars. Today, advances in 3D modelling software and 3D printing are allowing those designs to move from the virtual world into the physical one. Digital clothing no longer must stay confined to a render; it can be manufactured and worn, creating new workflows and possibilities across the fashion industry. Bridging the Gap Between Virtual and Physical Fashion As 3D design tools become more powerful and accessible, two distinct branches of 3D fashion have emerged. The first is digital-only fashion: garments designed to exist solely in virtual environments. These designs appear in gaming platforms, social media, virtual fashion shows, and avatar customisation. They allow for incredible creativity without the physical limitations of traditional materials, offering designers a playground for bold ideas that may never need to exist in the real world. The second branch uses digital tools to create garments that are ultimately brought into physical reality. Designers can sketch, model, and refine clothing in a digital environment, then use 3D printing or traditional manufacturing methods to produce the finished pieces. Software like CLO and Browzwear enables detailed prototyping across various body types, helping designers perfect their work before moving into production. This new workflow is not just more efficient. It also lowers the barriers to entry, allowing smaller brands and independent designers to compete without needing access to expensive physical resources. In both branches, technology is opening new ways for fashion to evolve. Creativity Unlocked – What 3D Printing Enables 3D printing is expanding the possibilities of garment design in several important ways. Traditional manufacturing limits certain shapes, structures, and textures simply because of what fabric and human sewing techniques can achieve. With 3D printing, designers can create intricate structures, sculptural forms, and unusual cuts that would be difficult or impossible to make by hand. Advances in full-colour printing, from companies like and Bamboo Lab, are also allowing for more detailed, vivid, and complex designs that maintain their visual impact in the real world. Some of these creations are primarily artistic rather than practical, but that is part of the value. 3D printing gives designers a new medium for experimentation, blurring the traditional lines between wearable clothing and conceptual art. It expands not just what can be worn but also what fashion can represent. The Intersection of 3D Fashion and Wearable Technology 3D printed fashion is also creating new possibilities in wearable technology. Rather than adding electronics as an afterthought, designers can build technology into garments during the design process itself. Custom-fit wearable devices, integrated sensors, and garments that interact with augmented or virtual reality environments are no longer theoretical ideas. They are already starting to appear in early-stage products. As 3D printing techniques improve and wearable technologies become smaller and more flexible, consumers will likely expect more from their clothing—not just in style, but in functionality as well. Fashion may increasingly reflect a person's digital life, physical needs, and personal identity all at once. The Sustainability Question While 3D designs and printing offer more efficient workflows at the design stage, the overall environmental impact of these technologies remains a complicated issue. On one hand, fewer physical samples and a streamlined prototyping process can help reduce material waste. Designers can adjust and refine their creations virtually, avoiding unnecessary physical production. On the other hand, the materials commonly used in 3D printing today are not inherently sustainable, and the energy demands of some processes can offset early efficiencies. The broader fashion industry already faces major environmental challenges; it accounts for nearly 10 per cent of global carbon emissions1. 3D printing could be a step towards reducing those impacts, but only if the materials, supply chains, and production practices also shift. What's Next Virtual fashion shows, digital-only garments, and avatar customisation are making 3D design more visible to a wider audience. As consumers become more comfortable with digital fashion experiences, demand for hybrid physical-digital products will likely grow. At the same time, the accessibility of 3D design tools is expanding. Students and independent designers are learning these technologies earlier, and traditional fashion brands are beginning to integrate digital workflows into their operations. The next phase of growth will depend on how the industry applies these tools: whether to foster creativity, reduce waste, and create new value—or simply accelerate production for its own sake. 3D printed fashion and wearable technology are no longer experimental. They are actively shaping the future of the industry.
Malaysian Reserve
7 days ago
- Business
- Malaysian Reserve
Palmer Square's CLO Indices Celebrate 10 Year Anniversary
MISSION WOODS, Kan., May 29, 2025 /PRNewswire/ — Today, Palmer Square Capital Management ('Palmer Square') celebrates the 10 year anniversary of its groundbreaking CLO indices. On May 29, 2015, Palmer Square introduced the first CLO benchmarks distributed globally on a daily basis: the Palmer Square CLO Senior Debt Index (CLOSE) and the Palmer Square CLO Debt Index (CLODI). According to Christopher D. Long, Founder, CEO and Chairman of Palmer Square, 'We launched the CLO indices to provide valuable insights and access to a daily performance benchmark focused on a rapidly expanding asset class. In 2024, we expanded our offerings by launching European CLO indices. Today, nearly 1,000 global subscribers access our indices, and we recently introduced an ETF (PSQA) in the U.S. and will soon launch a similar product in Europe which allows investors to directly access the return characteristics of these indices.' Below is the 10-year performance data of our trailblazing indices. YTD 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 Palmer Square Senior Debt Index (CLOSE) 1.57 % 7.40 % 9.01 % 0.70 % 1.43 % 2.68 % 4.44 % 2.12 % 3.16 % 3.32 % Palmer Square Debt Index (CLODI) 1.02 % 13.22 % 17.40 % -3.59 % 5.11 % 6.83 % 8.82 % 0.07 % 9.13 % 10.40 % As of April 30, 2025 'CLOs are one of the fastest growing areas of global structured credit, growing from approximately $400 million 10 years ago to more than $1 trillion in market value. Palmer Square's ability to provide daily performance indices to investors for the last decade has been a major contributor to this tremendous market growth as investors had the transparency to not only follow the CLO space, but also benchmark performance,' stated Jeff Fox, President, Palmer Square. The Palmer Square CLO Senior Debt Index is a rules-based observable pricing and total return index for collateralized loan obligation ('CLO') debt for sale in the United States, rated at the time of issuance as AAA or AA (or an equivalent rating). Such debt is often referred to as the senior tranches of a CLO. The Palmer Square CLO Debt Index is also a rules-based observable pricing and total return index for collateralized loan obligation ('CLO') debt for sale in the United States, rated at the time of issuance as A, BBB or BB (or equivalent rating). Such debt is often referred to as the mezzanine tranches of a CLO. About Palmer Square Capital Management Founded in 2009 by Christopher Long, with major offices in Kansas City and London, Palmer Square manages over $34.2 billion in fixed income/credit investments on behalf of a diverse client base inclusive of institutional investors, wealth management firms, and high net worth individuals (as of 03/31/25). The firm primarily focuses on Opportunistic Credit, Income Strategies, Private Credit, and CLOs while offering many product opportunities, including mutual funds, separately managed accounts, private partnerships (including investments focused on the CLO market), CLOs, and a publicly traded Business Development Company, Palmer Square Capital BDC Inc. (NYSE: PSBD). Past performance is not necessarily indicative of future results. It is not possible to invest directly in an index. Index performance does not reflect the deduction of any fees and expenses. There are risks involved with investing, including the possible loss of principal, that investors should be prepared to bear. The information contained herein should not be construed as personalized investment advice and should not be considered a solicitation to buy or sell any security or engage in a particular investment strategy. This data is provided for informational purposes only and is not intended for trading purposes. This document shall not constitute an offering of any security, product or service. The addition, removal or inclusion of a security in the Palmer Square CLO Senior Debt Index and the Palmer Square CLO Debt Index (the 'Indices') is not a recommendation to buy, sell, or hold that security, nor is it investment advice. The Indices are the exclusive property of Palmer Square. The Indices are calculated by NYSE Group, Inc. or its affiliates ('NYSE'). NYSE MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE INDICES OR ANY DATA INCLUDED THEREIN. IN NO EVENT SHALL NYSE HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. The securities issued under the CLO transactions have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This overview shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Palmer Square Capital Management LLC ('Palmer Square') is an SEC registered investment adviser with its principal place of business in the State of Kansas. Registration of an investment adviser does not imply a certain level of skill or training. Palmer Square and its representatives are in compliance with the current registration and notice filing requirements imposed upon registered investment advisers by those states in which Palmer Square maintains clients. Palmer Square may only transact business in those states in which it is notice filed, or qualifies for an exemption or exclusion from notice filing requirements. Any subsequent, direct communication by Palmer Square with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For additional information about Palmer Square, including fees and services, send for our disclosure statement as set forth on Form ADV using the contact information herein or refer to the Investment Adviser Public Disclosure web site ( Please read the disclosure statement carefully before you invest or send money. Media contact: palmersquare@
Yahoo
7 days ago
- Business
- Yahoo
Palmer Square's CLO Indices Celebrate 10 Year Anniversary
MISSION WOODS, Kan., May 29, 2025 /PRNewswire/ -- Today, Palmer Square Capital Management ("Palmer Square") celebrates the 10 year anniversary of its groundbreaking CLO indices. On May 29, 2015, Palmer Square introduced the first CLO benchmarks distributed globally on a daily basis: the Palmer Square CLO Senior Debt Index (CLOSE) and the Palmer Square CLO Debt Index (CLODI). According to Christopher D. Long, Founder, CEO and Chairman of Palmer Square, "We launched the CLO indices to provide valuable insights and access to a daily performance benchmark focused on a rapidly expanding asset class. In 2024, we expanded our offerings by launching European CLO indices. Today, nearly 1,000 global subscribers access our indices, and we recently introduced an ETF (PSQA) in the U.S. and will soon launch a similar product in Europe which allows investors to directly access the return characteristics of these indices." Below is the 10-year performance data of our trailblazing 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 Palmer Square Senior Debt Index (CLOSE) 1.57 % 7.40 % 9.01 % 0.70 % 1.43 % 2.68 % 4.44 % 2.12 % 3.16 % 3.32 % Palmer Square Debt Index (CLODI) 1.02 % 13.22 % 17.40 % -3.59 % 5.11 % 6.83 % 8.82 % 0.07 % 9.13 % 10.40 % As of April 30, 2025 "CLOs are one of the fastest growing areas of global structured credit, growing from approximately $400 million 10 years ago to more than $1 trillion in market value. Palmer Square's ability to provide daily performance indices to investors for the last decade has been a major contributor to this tremendous market growth as investors had the transparency to not only follow the CLO space, but also benchmark performance," stated Jeff Fox, President, Palmer Square. The Palmer Square CLO Senior Debt Index is a rules-based observable pricing and total return index for collateralized loan obligation ("CLO") debt for sale in the United States, rated at the time of issuance as AAA or AA (or an equivalent rating). Such debt is often referred to as the senior tranches of a CLO. The Palmer Square CLO Debt Index is also a rules-based observable pricing and total return index for collateralized loan obligation ("CLO") debt for sale in the United States, rated at the time of issuance as A, BBB or BB (or equivalent rating). Such debt is often referred to as the mezzanine tranches of a CLO. About Palmer Square Capital Management Founded in 2009 by Christopher Long, with major offices in Kansas City and London, Palmer Square manages over $34.2 billion in fixed income/credit investments on behalf of a diverse client base inclusive of institutional investors, wealth management firms, and high net worth individuals (as of 03/31/25). The firm primarily focuses on Opportunistic Credit, Income Strategies, Private Credit, and CLOs while offering many product opportunities, including mutual funds, separately managed accounts, private partnerships (including investments focused on the CLO market), CLOs, and a publicly traded Business Development Company, Palmer Square Capital BDC Inc. (NYSE: PSBD). Past performance is not necessarily indicative of future results. It is not possible to invest directly in an index. Index performance does not reflect the deduction of any fees and expenses. There are risks involved with investing, including the possible loss of principal, that investors should be prepared to bear. The information contained herein should not be construed as personalized investment advice and should not be considered a solicitation to buy or sell any security or engage in a particular investment strategy. This data is provided for informational purposes only and is not intended for trading purposes. This document shall not constitute an offering of any security, product or service. The addition, removal or inclusion of a security in the Palmer Square CLO Senior Debt Index and the Palmer Square CLO Debt Index (the "Indices") is not a recommendation to buy, sell, or hold that security, nor is it investment advice. The Indices are the exclusive property of Palmer Square. The Indices are calculated by NYSE Group, Inc. or its affiliates ("NYSE"). NYSE MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE INDICES OR ANY DATA INCLUDED THEREIN. IN NO EVENT SHALL NYSE HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. The securities issued under the CLO transactions have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This overview shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Palmer Square Capital Management LLC ("Palmer Square") is an SEC registered investment adviser with its principal place of business in the State of Kansas. Registration of an investment adviser does not imply a certain level of skill or training. Palmer Square and its representatives are in compliance with the current registration and notice filing requirements imposed upon registered investment advisers by those states in which Palmer Square maintains clients. Palmer Square may only transact business in those states in which it is notice filed, or qualifies for an exemption or exclusion from notice filing requirements. Any subsequent, direct communication by Palmer Square with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For additional information about Palmer Square, including fees and services, send for our disclosure statement as set forth on Form ADV using the contact information herein or refer to the Investment Adviser Public Disclosure web site ( Please read the disclosure statement carefully before you invest or send money. Media contact: palmersquare@ View original content to download multimedia: SOURCE Palmer Square Capital Management Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
Eagle Point Income Company Inc. Announces First Quarter 2025 Financial Results and Declares Third Quarter 2025 Common and Preferred Distributions
GREENWICH, Conn., May 28, 2025--(BUSINESS WIRE)--Eagle Point Income Company Inc. (the "Company") (NYSE: EIC, EICA, EICB, EICC) today announced financial results for the quarter ended March 31, 2025 and certain additional activity through April 30, 2025, and declared distributions on shares of the Company's common and preferred stock. "We capitalized on the downturn in the latter part of Q1 by deploying capital into CLO debt at discounted prices," said Thomas P. Majewski, Chairman and Chief Executive Officer. "We are excited to see convexity return in the CLO debt market; we expect these discounted opportunities will offer upside as the market continues to recover." "Earlier today, we declared monthly common distributions of $0.13 per share for the third quarter of 2025. In light of 100 basis points of Fed rate cuts over the past nine months, we believe the new distribution level more closely reflects the Company's near-term earnings potential in today's lower interest rate environment. Looking ahead, the Company has liquidity and will continue investing opportunistically during these volatile markets, which should enhance the Company's net investment income over time," concluded Mr. Majewski. FIRST QUARTER 2025 RESULTS Net asset value ("NAV") per common share of $14.16 as of March 31, 2025, compared to $14.99 as of December 31, 2024. Net investment income ("NII") and realized gains of $0.44 per weighted average common share.1 This compares to $0.54 of NII and realized gains per weighted average common share for the quarter ended December 31, 2024, and $0.56 of NII per weighted average common share for the quarter ended March 31, 2024. GAAP net loss (inclusive of unrealized mark-to-market depreciation) of $10.6 million, or $0.46 per weighted average common share. Received $16.5 million in recurring cash distributions2 from the Company's investment portfolio or $0.71 per weighted average common share, below the Company's aggregate distributions on its common stock and operating costs for the quarter. Deployed $84.6 million in net capital into collateralized loan obligation ("CLO") debt and equity and other investments. As of March 31, 2025: The weighted average effective yield of the Company's CLO debt and equity portfolio, based on amortized cost, was 11.12%. This compares to 12.13% as of December 31, 2024 and 13.28% as of March 31, 2024.3 Weighted average expected yield of the Company's portfolio, based on fair market value, was 12.76%. This compares to 12.95% as of December 31, 2024 and 15.35% as of March 31, 2024.3 Issued approximately 4.2 million shares of common stock, 120,291 shares of the Company's 7.75% Series B Term Preferred Stock due 2028 (the "Series B Term Preferred Stock") and 461,243 shares of the Company's 8.00% Series C Term Preferred Stock due 2029 (the "Series C Term Preferred Stock") pursuant to the Company's "at-the-market" offering for total net proceeds to the Company of approximately $78.4 million. The common stock issuance resulted in $0.08 per share of NAV accretion for the quarter ended March 31, 2025. As of March 31, 2025, the Company had outstanding preferred equity securities which totaled approximately 29.0% of total assets (less current liabilities).4 As of that date, the Company's revolving credit facility was fully undrawn. As of March 31, 2025, on a look-through basis, and based on the most recent CLO trustee reports received by such date: The Company, through its CLO investments, had indirect exposure to approximately 1,466 unique corporate obligors. The largest look-through obligor represented 0.6% of the loans underlying the Company's CLO debt and equity portfolio. The top-ten largest look-through obligors together represented 5.0% of the loans underlying the Company's CLO debt and equity portfolio. GAAP net income was comprised of total investment income of $14.1 million and net realized gain on investments of $1.0 million, partially offset by net unrealized appreciation on certain liabilities recorded at fair value of $1.9 million, net unrealized depreciation on investments of $18.9 million and financing costs and operating expenses of $4.9 million. Recorded other comprehensive income of $1.3 million. SECOND QUARTER 2025 PORTFOLIO ACTIVITY THROUGH APRIL 30, 2025 AND OTHER UPDATES As previously published on the Company's website, management's estimate of the range of the Company's NAV per common share is estimated to be between $13.73 and $13.83 as of April 30, 2025. Received $16.7 million of recurring cash distributions from the Company's investment portfolio. As of April 30, 2025, some of the Company's investments had not yet reached their payment date for the quarter. Deployed $12.9 million of net capital into CLO debt and equity and other investments. As of April 30, 2025, the Company had $33.2 million of cash and capacity on its revolving credit facility available for investment. THIRD QUARTER 2025 DISTRIBUTIONS The Company has declared three separate monthly distributions of $0.13 per share on its common stock for the third quarter of 2025.5 The following schedule applies to the distributions: Amount per Common Share Record Dates Payable Dates $0.13 July 11, 2025 July 31, 2025 $0.13 August 11, 2025 August 29, 2025 $0.13 September 10, 2025 September 30, 2025 The Board of Directors considers a variety of factors when declaring monthly distributions, including but not limited to cash flow generated from the Company's investment portfolio, GAAP earnings and the Company's requirement to distribute substantially all of its taxable income. The Company also announced the declaration of distributions on shares of the Company's 5.00% Series A Term Preferred Shares due 2026 (the "Series A Term Preferred Stock"), Series B Term Preferred Stock and Series C Term Preferred Stock as follows: Preferred Stock Type Amount per Share Record Dates Payable Dates Series A Term Preferred Stock $0.104167 July 11, 2025 August 11, 2025 September 10, 2025 July 31, 2025 August 29, 2025 September 30, 2025 Series B Term Preferred Stock $0.161459 Series C Term Preferred Stock $0.166667 The distributions on the Series A Term Preferred Stock, Series B Term Preferred Stock and Series C Term Preferred Stock reflect an annual distribution rate of 5.00%, 7.75% and 8.00%, respectively, of the $25 liquidation preference per share. CONFERENCE CALL The Company will host a conference call at 11:30 a.m. (Eastern Time) today to discuss the Company's financial results for the quarter ended March 31, 2025, as well as a portfolio update. All interested parties may participate in the conference call by dialing (877) 704-4453 (domestic) or (201) 389-0920 (international). Please reference Conference ID 13753091 when calling and you are invited to dial in approximately 10 to 15 minutes prior to the start of the call. A live webcast will also be available on the Company's website ( Please go to the Investor Relations section at least 15 minutes prior to the call to register, download and install any necessary audio software. An archived replay of the call will be available shortly afterwards until June 27, 2025. To hear the replay, please dial (844) 512-2921 (toll-free) or (412) 317-6671 (international). For the replay, enter Conference ID 13753091. ADDITIONAL INFORMATION The Company has made available on the investor relations section of its website, (in the financial statements and reports section), its unaudited consolidated financial statements as of and for the period ended March 31, 2025. The Company has also filed this report with the U.S. Securities and Exchange Commission ("SEC"). The Company also published on its website (in the presentations and events section) an investor presentation, which contains additional information about the Company and its portfolio as of and for the quarter ended March 31, 2025. ABOUT EAGLE POINT INCOME COMPANY The Company is a diversified, closed-end management investment company. The Company's primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation. The Company seeks to achieve its investment objectives by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 35% of its total assets (at the time of investment) in CLO equity securities. The Company is externally managed and advised by Eagle Point Income Management LLC. The Company makes certain unaudited portfolio information available each month on its website in addition to making certain other unaudited financial information available on its website ( This information includes (1) an estimated range of the Company's net investment income 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 estimated range 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) during the latter part of each month, an updated estimate of NAV, if applicable, and, with respect to each calendar quarter end, an updated estimate of the Company's net investment income and realized capital gains or losses per share for the applicable quarter. 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. 1 "Per weighted average common share" is based on the average daily number of shares of common stock outstanding for the period and "per share" refers to per share of the Company's common stock.2 "Recurring cash distributions" refers to the quarterly distributions received by the Company from its CLO debt, CLO equity and other investments.3 "Weighted average effective yield" is based on an investment's amortized cost whereas "weighted average expected yield" is based on an investment's fair market value as of the applicable period end as disclosed in the Company's financial statements, which is subject to change from period to period. Please refer to the Company's quarterly unaudited financial statements for additional disclosures.4 Over the long term, management expects to generally operate the Company with leverage within a range of 25% to 35% of total assets (less current liabilities) under normal market conditions. The Company may incur leverage outside of this range, subject to applicable regulatory limits.5 The ability of the Company to declare and pay distributions on stock is subject to a number of factors, including the Company's results of operations. Distributions on 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 actual components of the Company's distributions for U.S. tax reporting purposes can only be finally determined as of the end of each fiscal year of the Company and are thereafter reported on Form 1099-DIV. View source version on Contacts Investor and Media Relations:Prosek Partners203-340-8510IR@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
28-05-2025
- Business
- Business Wire
Eagle Point Credit Company Inc. Announces First Quarter 2025 Financial Results and Declares Third Quarter 2025 Common and Preferred Distributions
GREENWICH, Conn.--(BUSINESS WIRE)--Eagle Point Credit Company Inc. (the 'Company') (NYSE: ECC, ECCC, ECC PRD, ECCF, ECCU, ECCV, ECCW, ECCX) today announced financial results for the quarter ended March 31, 2025 and certain additional activity through April 30, 2025, and declared distributions on shares of the Company's common and preferred stock. 'The Company had a solid start to the year, deploying nearly $200 million into new investments with compelling risk-adjusted returns,' said Thomas P. Majewski, Chief Executive Officer. 'We also actively managed our portfolio towards a longer weighted average remaining reinvestment period and lower debt costs by completing 9 resets and 7 refinancings prior to the selloff in the latter part of the quarter. When the markets turned, we moved much of our focus to secondary opportunities, sourcing attractive investments at discounts.' FIRST QUARTER 2025 RESULTS Net asset value ('NAV') per common share of $7.23 as of March 31, 2025, compared to $8.38 as of December 31, 2024. Net investment income ('NII') of $0.28 per weighted average common share. 1,2 NII and realized capital gains of $0.33 per weighted average common share. NII and realized capital gains of $0.33 per weighted average common share compares to $0.12 of NII less realized capital losses per weighted average common share for the quarter ended December 31, 2024, and $0.29 of NII and realized capital gains per weighted average common share for the quarter ended March 31, 2024. GAAP net loss (inclusive of unrealized mark-to-market depreciation) of $97.5 million, or $0.84 per weighted average common share. Received $79.9 million in recurring cash distributions 3 from the Company's investment portfolio, or $0.69 per weighted average common share, exceeding the Company's aggregate distributions on its common stock and operating costs for the quarter. Deployed $94.5 million in net capital into collateralized loan obligation ('CLO') equity, CLO debt, loan accumulation facilities and other investments. The weighted average effective yield of new CLO equity investments made by the Company during the quarter, which includes a provision for credit losses, was 18.9% as measured at the time of investment. As of March 31, 2025: The weighted average effective yield of the Company's CLO equity portfolio (excluding called CLOs), based on amortized cost, was 13.66%. This compares to 14.61% as of December 31, 2024 and 16.43% as of March 31, 2024. 4 The weighted average expected yield of the Company's CLO equity portfolio (excluding called CLOs), based on fair market value, was 19.69%. This compares to 19.31% as of December 31, 2024 and 23.96% as of March 31, 2024. 4 Issued approximately 7.6 million shares of common stock and 16,399 shares of 6.75% Series D Perpetual Preferred Stock (the 'Series D Preferred Stock') pursuant to the Company's 'at-the-market' offering program for total net proceeds of approximately $65.9 million. The common stock issuance resulted in $0.02 per share of NAV accretion during the quarter. Issued 891,258 shares of Series AA and 92,836 shares of Series AB 7.00% Convertible Perpetual Preferred Stock for total proceeds of $22.4 million pursuant to the Company's continuous offering of Series AA and Series AB 7.00% Convertible Perpetual Preferred Stock (the 'Convertible Perpetual Preferred Stock'). As of March 31, 2025, the Company had debt and preferred equity securities outstanding which totaled approximately 40.9% of its total assets (less current liabilities). 5 As of March 31, 2025, on a look-through basis, and based on the most recent CLO trustee reports received by such date: The Company, through its investments in CLO equity securities, had indirect exposure to approximately 1,931 unique corporate obligors. The largest look-through obligor represented 0.6% of the loans underlying the Company's CLO equity portfolio. The top-ten largest look-through obligors together represented 4.8% of the loans underlying the Company's CLO equity portfolio. The look-through weighted average spread of the loans underlying the Company's CLO equity portfolio was 3.36% as of March 2025, down 13 basis points from December 2024. GAAP net loss was comprised of total investment income of $52.3 million and realized capital gains of $5.3 million, offset by total net unrealized depreciation on investments of $122.3 million, net unrealized appreciation on certain liabilities held at fair value of $9.6 million, financing costs and operating expenses of $20.0 million and distributions and amortization of offering costs on temporary equity of $3.2 million. Recorded other comprehensive income of $7.1 million. SECOND QUARTER 2025 PORTFOLIO ACTIVITY THROUGH APRIL 30, 2025 AND OTHER UPDATES As previously published on the Company's website, management's estimate of the range of the Company's NAV per common share is estimated to be between $6.71 and $6.81 as of April 30, 2025. Received $75.5 million of recurring cash distributions from the Company's investment portfolio. As of April 30, 2025, some of the Company's investments had not yet reached their payment date for the quarter. Deployed $4.2 million of net capital into CLO equity, CLO debt, loan accumulation facilities and other investments. THIRD QUARTER 2025 DISTRIBUTIONS The Company is pleased to declare three separate monthly distributions of $0.14 per share on its common stock for the third quarter of 2025. 6 The following schedule applies to the distributions: Amount per Common Share Record Date Payable Date $0.14 July 11, 2025 July 31, 2025 $0.14 August 11, 2025 August 29, 2025 $0.14 September 10, 2025 September 30, 2025 Expand The Company is also pleased to announce the declaration of distributions on its 6.50% Series C Term Preferred Stock due 2031 (the 'Series C Term Preferred Stock'), Series D Preferred Stock and 8.00% Series F Term Preferred Stock due 2029 (the 'Series F Term Preferred Stock') as follows: The distributions on the Series C Term Preferred Stock, Series D Preferred Stock and Series F Term Preferred Stock reflect an annual distribution rate of 6.50%, 6.75% and 8.00%, respectively, of the $25 liquidation preference per share. The Company is also pleased to announce the declaration of distributions on shares of the Convertible Perpetual Preferred Stock as follows: Preferred Stock Type Amount per Share Record Dates Payable Dates 7.00% Series AA Convertible Perpetual Preferred Stock $0.145834 July 11, 2025 August 11, 2025 September 10, 2025 July 31, 2025 August 29, 2025 September 30, 2025 7.00% Series AB Convertible Perpetual Preferred Stock $0.145834 Expand The distributions on shares of the Convertible Perpetual Preferred Stock reflect an annual distribution rate of 7.00% of the $25 liquidation preference per share and accumulate from the date of original issue. CONFERENCE CALL The Company will host a conference call at 10:00 a.m. (Eastern Time) today to discuss the Company's financial results for the quarter ended March 31, 2025, as well as a portfolio update. All interested parties may participate in the conference call by dialing (877) 407-0789 (toll-free) or (201) 689-8562 (international). Please reference Conference ID 13753090 when calling, and the Company recommends dialing in approximately 10 to 15 minutes prior to the call. A live webcast will also be available on the Company's website ( Please go to the Investor Relations section at least 15 minutes prior to the call to register, download and install any necessary audio software. An archived replay of the call will be available shortly afterwards until June 27, 2025. To hear the replay, please dial (844) 512-2921 (toll-free) or (412) 317-6671 (international). For the replay, enter Conference ID 13753090. ADDITIONAL INFORMATION The Company has made available on the investor relations section of its website, (in the financial statements and reports section), its unaudited consolidated financial statements for the period ended March 31, 2025. The Company also published on its website (in the presentations and events section) an investor presentation, which contains additional information about the Company and its portfolio for the quarter ended March 31, 2025. The Company has filed these reports with the Securities and Exchange Commission ('SEC'). ABOUT EAGLE POINT CREDIT COMPANY The Company is a non-diversified, closed-end management investment company. The Company's primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation. The Company seeks to achieve its investment objectives by investing primarily in equity and junior debt tranches of CLOs. The Company is externally managed and advised by Eagle Point Credit Management LLC. The Company makes certain unaudited portfolio information available each month on its website in addition to making certain other unaudited financial information available on its website ( This information includes (1) an estimated range of the Company's net investment income 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 estimated range 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) during the latter part of each month, an updated estimate of NAV, if applicable, and, with respect to each calendar quarter end, an updated estimate of the Company's net investment income and realized capital gains or losses per share for the applicable quarter. 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. __________________________ 1 'Per weighted average common share' is based on the average daily number of shares of common stock outstanding for the period and 'per common share' refers to per share of the Company's common stock. 2 NII does not reflect distributions and amortization of offering costs on the Series D Preferred Stock and the Series AA/AB Convertible Perpetual Preferred Stock (collectively with the Series D Preferred Stock, the 'temporary equity') of $0.03 per weighted average common share. 3 'Recurring cash distributions' refers to the quarterly distributions received by the Company from its CLO equity, CLO debt and other investments and distributions from loan accumulation facilities in excess of capital invested and excludes funds received from CLOs called. 4 'Weighted average effective yield' is based on an investment's amortized cost whereas 'weighted average expected yield' is based on an investment's fair market value as of the applicable period end as disclosed in the Company's financial statements, which is subject to change from period to period. Please refer to the Company's quarterly unaudited financial statements for additional disclosures. 5 Over the long term, management expects to generally operate the Company with leverage within a range of 27.5% to 37.5% of total assets (less current liabilities) under normal market conditions. The Company may incur leverage outside of this range, subject to applicable regulatory limits. 6 The ability of the Company to declare and pay distributions on its common stock is subject to a number of factors, including the Company's results of operations. Distributions on its 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 actual components of the Company's distributions for US tax reporting purposes can only be finally determined as of the end of each fiscal year of the Company and are thereafter reported on Form 1099-DIV.
