NGL Energy Partners LP | 9.00% Class B Fixed-to-Floating Rate Cumulative (NGL.PRB)

Prospectus excerpt:  We are offering 7,400,000 9.00% Class B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units, liquidation preference $25.00 per Class B Preferred Unit, of NGL Energy Partners LP. Distributions on the Class B Preferred Units are cumulative from the date of original issue and will be payable quarterly in arrears on January 15, April 15, July 15 and October 15 of each year, when, as and if declared by our general partner; provided that the initial distribution on the Class B Preferred Units will accumulate from the date of original issue until September 30, 2017, and will be payable on October 15, 2017 in an amount equal to $0.675 per Class B Preferred Unit. Distributions on the Class B Preferred Units will be payable out of amounts legally available therefor from and including the date of original issue to, but not including, July 1, 2022 at a rate equal to 9.00% per annum of the $25.00 liquidation preference. On and after July 1, 2022, distributions on the Class B Preferred Units will accumulate for each quarterly distribution period at a percentage of the $25.00 liquidation preference equal to the applicable Three-Month LIBOR plus a spread of 721.3 basis points.

Full Prospectus PDF », NGL Page »

Alternate symbology:NGL-B, NGL-PB, NGLprB
Call Date:7/1/2022
Shares Offered:7,400,000
Liquidation Preference:$25
Recent Market Price:$11.34
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-13.66 (-54.64%)
Annualized Dividend:2.25
Recent Ex-Date:9/29/2020
Current Yield:7.94%
Original Coupon:9.00%
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
NGL Energy Partners transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and refined petroleum products. Co.'s crude oil logistics segment purchases crude oil from producers and marketers and transports it to refineries or for resale. 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 liquids and refined products segment conducts marketing operations for natural gas liquids, refined petroleum products and biodiesel to a range of commercial, retail and industrial customers across the United States and Canada.

Preferreds: NGL.PRB, NGL.PRC

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NGL Energy Partners LP
Oil & Gas Equipment & Services
Number of ETFs Holding NGL: 
1 (see which ones)
Total Market Value Held by ETFs: 
Total Market Capitalization: 
% of Market Cap. Held by ETFs: 

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