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 ONÂ Â 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
Â
Company Investor Relations Page for NGL Energy Partners
Click Here to find the offering Prospectus and/or Final Pricing Document