Teekay LNG Partners LP | 8.50% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (TGP.PRB)

Prospectus excerpt:  We are offering 6,000,000 of our 8.50% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units, liquidation preference $25.00 per unit (or the Series B Preferred Units). Distributions on the Series B Preferred Units are cumulative from the date of original issue and will be payable quarterly in arrears on the 15th day of January, April, July and October of each year, when, as and if declared by the board of directors of our general partner. The initial distribution on the Series B Preferred Units offered hereby will be payable on January 15, 2018 in an amount equal to $0.40139 per unit. Distributions will be payable out of amounts legally available for distributions (i) from and including the original issue date to, but excluding October 15, 2027 at a fixed rate equal to 8.50% per annum of the stated liquidation preference and (ii) from and including October 15, 2027, at a floating rate equal to three-month LIBOR plus a spread of 624.1 basis points.

Full Prospectus PDF », TGP Page »

Alternate symbology:TGP-B, TGP-PB, TGPprB
Call Date:10/15/2027
Shares Offered:6,000,000
Liquidation Preference:$25
Recent Market Price:$25.87
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.87 (3.48%)
Annualized Dividend:2.1252
Recent Ex-Date:12/30/2021
Current Yield:8.21%
Original Coupon:8.50%
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
CDx3 Compliance Rating: Learn TGP.PRB's Rating
Teekay LNG Partners is an international provider of marine transportation services focusing on liquefied natural gas (LNG) and liquefied petroleum gas (LPG). Co. focuses on servicing its customers through its fleet of LNG and LPG carriers under medium to long-term, fixed-rate charters. Co. has two reportable segments, the LNG segment and the LPG segment. Co.'s LNG segment consists of LNG carriers which generally operate under long-term, fixed-rate charters to international energy companies. Co.'s LPG segment consists of LPG and multi-gas carriers which generally operate under voyage charters or time-charters.

Preferreds: TGP.PRA, TGP.PRB

Open the TGP Information Page »
Teekay LNG Partners LP
Oil & Gas Equipment & Services
Number of ETFs Holding TGP: 
3 (see which ones)
Total Market Value Held by ETFs: 
Total Market Capitalization: 
% of Market Cap. Held by ETFs: 

Quotes delayed 20 minutes

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

Teekay LNG Partners LP | 8.50% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (TGP.PRB) Information Page | Preferred Stock Channel |

Copyright © 2010 - 2022, 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.