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OXLCP - Oxford Lane Capital: A Look At The Preferreds Post Results
Oxford Lane Capital Corp - 6.25% PRF REDEEM 28/02/2027 USD 25 - Ser 2027
The CEF preferred stock sector is, on average, one of the safest; however, the average hides a lot of variation. In addition to having well-behaved CEFs with high asset coverage, it also boasts extremely volatile CEFs with low coverage such as a number of CLO funds. These funds have taken a beating over the last few weeks due to a drop in loan prices, rising CLO equity discount rates and credit downgrades. In this article, we consider the implications of the current market environment on these funds and take a look at the Oxford Lane