Hoegh LNG Partners LP | 8.75% Series A Cumulative Redeemable Preferred Units (HMLP.PRA)

Prospectus excerpt:  We are offering 4,000,000 of our 8.75% Series A Cumulative Redeemable Preferred Units, liquidation preference $25.00 per unit (or Series A Preferred Units). Distributions on the Series A Preferred Units are cumulative from the date of original issue and will be payable quarterly in arrears on the 15th day of February, May, August and November of each year, when, as and if declared by our board of directors. The initial distribution on the Series A Preferred Units offered hereby will be payable on February 15, 2018 in an amount equal to $0.78993 per unit. Distributions will be payable out of amounts legally available therefor at an initial rate equal to 8.75% per annum of the stated liquidation preference. At any time on or after October 5, 2022, the Series A Preferred Units may be redeemed, in whole or in part, out of amounts legally available therefor, at a redemption price of $25.00 per unit plus an amount equal to all accumulated and unpaid distributions thereon to the date of redemption, whether or not declared.

Full Prospectus PDF », HMLP Page »

Alternate symbology:HMLP-A, HMLP-PA, HMLPprA
Call Date:10/5/2022
Shares Offered:4,000,000
Liquidation Preference:$25
Recent Market Price:$20.83
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-4.17 (-16.68%)
Annualized Dividend:2.1875
Recent Ex-Date:11/5/2021
Current Yield:10.50%
Original Coupon:8.75%
Pay Period:Quarterly
Pay Dates:15-Feb, 15-May, 15-Aug, 15-Nov
CDx3 Compliance Rating: Learn HMLP.PRA's Rating
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.

Preferred: HMLP.PRA

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Hoegh LNG Partners LP
Oil & Gas Equipment & Services

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