Prospectus excerpt: We are offering 6,000,000 of our 7.25% Series A Cumulative Redeemable Preferred Units, liquidation preference $25.00 per unit (or the 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 the board of directors of our general partner. The initial distribution on the Series A Preferred Units offered hereby will be payable on August 15, 2013 in an amount equal to $0.5286 per unit. Distributions will be payable out of amounts legally available therefor at an initial rate equal to 7.25% per annum of the stated liquidation preference.
At any time on or after April 30, 2018, 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.