PreferredStockChannel

Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Fri, March 29, 4:50 AM

Slide #259. NGL Energy Partners LP Preferred Stock Offering

Company: NGL Energy Partners LP (NYSE:NGL)
Date announced: 6/6/2017
Shares Offered: 7,400,000
Date of Pricing: 6/6/2017
Price Per Share: $25.00
Preferred Stock Offering Details: NGL Energy Partners LP (NYSE:NGL) today announced the commencement of an underwritten public offering of Class B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units, liquidation preference $25.00 per unit, representing limited partner interests in NGL. NGL expects to grant the underwriters a 30-day option to purchase additional Class B Preferred Units, solely to cover over-allotments, if any. NGL intends to use the net proceeds from this offering to repay indebtedness under its revolving credit facility, which NGL may re-borrow from time to time for general partnership purposes, including to retire other senior indebtedness. -updated 6/6- NGL Energy Partners LP (NYSE:NGL) today announced it has priced its underwritten public offering of 7,400,000 of its 9.00% Class B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units, liquidation preference $25.00 per unit, representing limited partner interests in NGL, at a price of $25.00 per Class B Preferred Unit. NGL has granted the underwriters a 30-day option to purchase up to 1,110,000 additional Class B Preferred Units, solely to cover over-allotments, if any. NGL expects to receive approximately $179 million in net proceeds from the offering after deducting the underwriters' discount and NGL's estimated offering expenses, assuming no exercise by the underwriters of their option to purchase additional Class B Preferred Units, or approximately $206 million if the underwriters exercise their option to purchase additional Class B Preferred Units in full. The offering is expected to close on June 13, 2017, subject to customary closing conditions.

NGL Energy Partners transports, treats, recycles and disposes of produced water as well as transports, stores, markets and provides other logistics services for crude oil and liquid hydrocarbons. Co.'s water solutions segment transports, treats, recycles and disposes of produced and flowback water generated from crude oil and natural gas production. Co.'s crude oil logistics segment purchases crude oil from producers and marketers and transports it to refineries or for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, refineries, and other trade hubs. Co.'s liquids logistics segment conducts supply operations for natural gas liquids.

Preferreds: NGL.PRB, NGL.PRC


Open the NGL Page at Preferred Stock Channel »

Name: 
NGL Energy Partners LP
Website: 
www.nglenergypartners.com
Sector: 
Oil & Gas Equipment & Services
Number of ETFs Holding NGL: 
1 (see which ones)
Total Market Value Held by ETFs: 
$151,569.9
Total Market Capitalization: 
$739,000,000
% of Market Cap. Held by ETFs: 
0.02%
 

Open the NGL Page at Preferred Stock Channel (in a new window) »

Quotes delayed 20 minutes

Email EnvelopeFree NGL Email Alerts:
Get Dividend Alerts
Get SEC Filing Alerts

Hold (2.00 out of 4)
0th percentile
(ranked lower than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com
Top Ten Highest Yielding Preferred Stocks
Feel-Good Income: Socially Responsible Preferreds
Dividend Channel's 25 S.A.F.E. Dividend Stocks
Increasing Payments For Decades

Safer than S.A.F.E: Preferreds of Dividend Channel's
S.A.F.E. Dividend Stocks

Recent Preferred Stock Offerings
Preferred Stocks of Dow Components
Preferred Stocks of S&P 500 Components
Preferred Stocks By Industry
Preferred Stocks Where Insiders Are Buying The Common
High Yield Preferred Stocks
Preferreds Trading At Premiums To Liquidation Preference
Preferreds Trading At Discounts To Liquidation Preference
The Top 10 DividendRank'ed U.S. Stocks
The Top 10 DividendRank'ed Canadian Stocks
Top 25 Broker Analyst Picks of the S&P 500
Stock market game

Preferred Stock Offerings - Slide 259 of 619 | www.PreferredStockChannel.com

Copyright © 2010 - 2024, All Rights Reserved Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.