OXLCP - OFS Credit Company: New Preferred Lacks Appeal

• New issuance has been running apace in the small CLO CEF senior security sector.
• We highlight the latest preferred offering OCCIO from OCCI which will be used to refinance two other existing preferred series.
• Our key takeaway is that there are better choices in the sector, either in baby bonds which offer a stronger risk profile at the expense of potentially longer maturities.
• Alternatively, investors should consider other sector preferreds which offer a similar risk and maturity profile at higher yields.

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