NGL Energy Partners 9% Class B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units
By: Tim McPartland,
Date Sold 6/6/2017
Shares Issued 7,400,000 Overallotment Shares 1,110,000
S&P Rating NR Moodys Rating NR
Security Ticker Symbol NGL-B OTC Grey Market NGGLP
Market Traded ON NYSE
Dividend Payment Paid on the 15th of January, April, July and October beginning on 10/15/2017
Quarterly Dividend .563 Annual Dividend 2.25
Securities may be redeemed, at the issuers option, as early as 7/1/2022 for a redemption price of $25/share plus accrued dividends.
Coupon is fixed at 9% until 7/1/2022 after which it floats at 7.213% 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