Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Thu, December 2, 11:05 AM
|This Slide: #189 of 573|
Slide #189. Hoegh LNG Partners LP — Preferred Stock Offering
Hoegh LNG Partners LP (NYSE:HMLP)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Hoegh LNG Partners LP (NYSE: HMLP) ("HMLP" or the "Partnership") today announced that it plans to offer Series A Cumulative Redeemable Preferred Units ("Series A Preferred Units"), representing limited partner interests, in a public offering. The Partnership expects to grant the underwriters a 30-day option to purchase additional Series A Preferred Units. -updated 9/28- Hoegh LNG Partners LP (NYSE: HMLP) ("HMLP" or the "Partnership") today announced that it has priced its public offering of 4,000,000 of its 8.75% Series A Cumulative Redeemable Preferred Units ("Series A Preferred Units"), representing limited partner interests, at $25.00 per unit. Distributions will be payable on the Series A Preferred Units at an initial rate of 8.75% per annum of the stated liquidation preference of $25.00. The offering is expected to close on October 5, 2017. The Partnership has granted the underwriters a 30-day option to purchase up to an additional 600,000 Series A Preferred Units.
Hoegh LNG Partners is a floating liquefied natural gas (LNG) service provider. Co. owns, operates and acquires floating storage and regasification units (FSRUs), LNG carriers and other LNG infrastructure assets under long-term charters. Co. has two operating segments: Majority Held FSRUs and Joint Venture FSRUs. Co.'s Majority Held FSRUs segment includes the financing lease related to the PGN FSRU Lampung and the operating leases related to the Hoegh Gallant and the Hoegh Grace. Co.'s Joint Venture FSRUs segment includes FSRUs, the Neptune and the Cape Ann, that operate under long term time charters with one charterer.
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Buy (2.75 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com