Targa Resources Partners LP 9% Series A Fixed to Floating Rate Cumulative Redeemable Perpetual Preferred Units

By: ,

Date Issued   10/7/2015

Shares Issued  4,400,000   Overallotment Shares  660,000

S&P Rating   NR   Moodys Rating   NR


Security Ticker Symbol   NGLS-A  OTC Temp Ticker  TGARP

Market Traded ON   NYSE

Distribution Payment Paid on the 15th of each month beginning on 11/15/2015

Monthly Distribution   .1875  Annual Distribution   2.25

After 11/1/2020 the distribution rate will be floating at 7.71% plus 1 month libor.

Securities may be redeemed, at the issuers option, as early as 11/01/2020  the call price is $25 plus accrued distributions

Dividend Payment will NOT be Qualified Distributions

Maturity Date   None

This issue will generate a K-1 tax document.



Company Investor Relations Page for Targa Resources Partners

Below you can find the offering Prospectus


Related Posts:

Tim McPartland

Connect with Tim McPartland

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.
Search Dividend Investor