DCP Midstream 7.875% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units

By: ,

Date Issued   5/9/2018

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Shares Issued   6,000,000   Overallotment  900,000

S&P Rating   B   Moodys Rating   B1

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Security Ticker Symbol   DCP–B   OTC Grey Market   DCPMP

Market Traded ON   NYSE

Dividend Payment Paid on the 15th of March, June, September and December beginning on 9/15/2018

Quarterly Distribution   .4922   Annual Distribution   1.97

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Securities may be redeemed, at the issuers option, as early as 06/15/2023 for a redemption price of $25/share plus accrued distribution

On June 15, 2023 the coupon will float at a rate of 3 month Libor and a spread of 4.919%.

Dividend Payment Will Likely be a Non Qualified Distribution

Maturity Date   None

 

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Company Investor Relations Page for DCP Midstream

Click Here to find the offering Prospectus and Final Pricing Document

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Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
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