NGL Energy Partners 9.625% Class C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units

By: ,

Date Sold     3/26/2019

Shares Issued   1,600,000   Overallotment Shares  240,000

S&P Rating   NR   Moodys Rating   NR


Security Ticker Symbol    NGL-C     OTC Grey Market    NGLPP

Market Traded ON   NYSE

Dividend Payment Paid on the 15th of January, April, July and October beginning on 7/15/2019

Quarterly Dividend   .563   Annual Dividend   2.25

Securities may be redeemed, at the issuers option, as early as 4/15/2024 for a redemption price of $25/share plus accrued dividends.


Coupon is fixed at 9.625% until 4/15/2024 after which it floats at 7.384% plus 3 month Libor.

Dividend Payment Will NOT be a Qualified Distributions as NGL is a MLP

Company will issue a K-1 at tax time to holders of this security.

Maturity Date   None


Click Here to find the offering Prospectus and/or Final Pricing Document

Tim McPartland

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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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