PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, December 4, 3:36 AM
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Slide #133. Dynagas LNG Partners LP — Preferred Stock Offering
Company:
Dynagas LNG Partners LP (NYSE:DLNG)
Date announced:
10/16/2018
Shares Offered:
2,200,000
Date of Pricing:
10/16/2018
Price Per Share:
$25.00
Preferred Stock Offering Details:
Dynagas LNG Partners LP (NYSE: DLNG) ("Dynagas Partners") today announced that it has priced its public offering of 2,200,000 of its 8.75% Series B Fixed to Floating Rate Cumulative Redeemable Perpetual Preferred Units, liquidation preference $25.00 per unit (the "Series B Preferred Units"), representing limited partner interests, at a price to the public of $25.00 per unit. Distributions will be payable on the Series B Preferred Units to November 22, 2023 at a fixed rate equal to 8.75% per annum and from November 22, 2023, if not redeemed, at a floating rate. Dynagas Partners has granted the underwriters a 30-day option to purchase up to an additional 330,000 Series B Preferred Units on the same terms and conditions. The offering is expected to close on or about October 23, 2018 subject to customary closing conditions.
Dynagas LNG Partners is a holding company. Through its subsidiaries, Co. is focused on owning and operating liquefied natural gas (LNG) carriers. The vessels in Co.'s fleet are contracted on time charters with international energy companies, including Gazprom Global LNG Limited, Equinor ASA and Yamal Trade Pte. Ltd.
Preferreds: DLNG.PRA, DLNG.PRB
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Avg. Broker Rec.
  
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Hold (2.29 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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