Tsakos Energy Navigation Ltd | 9.50% Series F Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares (TNP.PRF)

Prospectus excerpt:  We are offering 5,400,000 of our Series F Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares, par value $1.00 per share, liquidation preference $25.00 per share (the “Series F Preferred Shares”). Dividends on the Series F Preferred Shares are cumulative from the date of original issue and will be payable quarterly in arrears on the 30th day of January, April, July and October of each year, commencing October 30, 2018, when, as and if declared by our board of directors. Dividends will be payable from cash available for dividends (i) from and including the original issue date to, but excluding, July 30, 2028 at a fixed rate equal to 9.50% per annum of the stated liquidation preference and (ii) from and including July 30, 2028, at a floating rate equal to three-month LIBOR plus a spread of 6.54% per annum of the stated liquidation preference. At any time on or after July 30, 2028, the Series F Preferred Shares may be redeemed, in whole or in part, out of amounts available therefor, at a redemption price of $25.00 per share plus an amount equal to all accumulated and unpaid dividends thereon to the date of redemption, whether or not declared.

Full Prospectus PDF », TNP Page »

Alternate symbology:TNP-F, TNP-PF, TNPprF
Call Date:7/30/2028
Shares Offered:5,400,000
Liquidation Preference:$25
Recent Market Price:$23.80
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-1.20 (-4.80%)
Annualized Dividend:2.375
Recent Ex-Date:10/26/2021
Current Yield:9.98%
Original Coupon:9.50%
Pay Period:Quarterly
Pay Dates:30-Jan, 30-Apr, 30-Jul, 30-Oct
CDx3 Compliance Rating: Learn TNP.PRF's Rating
Tsakos Energy Navigation is a holding company. Through its subsidiaries, Co. is a provider of international seaborne crude oil and petroleum product transportation services. Co. is also engaged in transporting liquefied natural gas.


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Tsakos Energy Navigation Ltd
Oil & Gas Equipment & Services
Number of ETFs Holding TNP: 
2 (see which ones)
Total Market Value Held by ETFs: 
Total Market Capitalization: 
% of Market Cap. Held by ETFs: 

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