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OXLCM - Preferred Stock - The Source Of Leverage For The CLO CEFs
Oxford Lane Capital Corp. 6.75% Series 2024 Term Preferred Stock
I've singled out one preferred stock issuance for each of the three issuing managers in the CLO closed-end fund ((CEF)) space to highlight and compare to one another.
Eagle Point Credit and Oxford Lane Capital each have additional preferred stock offerings but I chose to focus on these for this exercise; the additional offerings from these two managers have different characteristics that make them less attractive, such as being unsecured, already being inside their early call period, or pay a lower stated rate of interest. The three I’ll examine closer are [[ECCB]], [[OXLCM]], and [[OCCIP]]