PreferredStockChannel
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 »

Series:B
Alternate symbology:NGL-B, NGL-PB, NGLprB
Redeemable?:Yes
Call Date:7/1/2022
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:7,400,000
Overallotment:1,110,000
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


Open the NGL Information Page »
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: 
$465,000,000
% of Market Cap. Held by ETFs: 
0.03%

Quotes delayed 20 minutes

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

NGL Energy Partners LP | 9.00% Class B Fixed-to-Floating Rate Cumulative (NGL.PRB) Information Page | Preferred Stock Channel | www.PreferredStockChannel.com

Copyright © 2010 - 2020, 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.