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


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