The following is a summary of the Eagle Point Credit Co LLC (ECC) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Eagle Point Credit Company reported a GAAP return of equity of 20.79% and a total return on common stock of 18.92% for 2023.

• Net income and realized capital gains for Q4 totaled $0.33 per share.

• The company received recurring cash flows on its portfolio in Q4 of $60.7 million, or $0.82 per common share.

• NAV per share as of December 31 was $9.21, a modest decrease from September 30, but up 2% for the full year.

• Aggregate common distributions and expenses for the quarter were exceeded by $0.14 per share.

• The company paid $0.48 per share of cash distributions to common shareholders in Q4, taking the total for the year to $1.86 per share.

Business Progress:

• Eagle Point deployed $34 million in net capital into new investments for the fourth quarter and raised an additional $47 million of net proceeds through the issuance of a new Series F term preferred stock due in 2029.

• The company issued approximately 4.5 million common shares at a premium, generating NAV accretion of $0.03 per share during the quarter.

• The company declared additional variable supplemental distributions of $0.02 per share for aggregate monthly common distributions through the end of June 2024.

• The company's CLO equity portfolio's weighted-average effective yield was 16.7%, an increase from 16.29% end of September.

• The company's CLO equity portfolios weighted average remaining reinvestment period stood at 2.4 years, well above the market average of 1.6 years.

• The company is prepared for an increase in third-party new issue CLO activity throughout the year, suggesting promising returns.

• Distributions for Q2 have been declared in line with recent distributions, with the variable supplemental distribution to be reviewed on a quarterly basis.

More details: Eagle Point Credit IR

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