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By Preferred Stock Channel Staff, updated Sunday, March 15, 9:54 PM
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Preferred Stock Offerings
| This Slide: #535 of 664 |
Slide #535. Tsakos Energy Navigation Limited — Preferred Stock Offering
Company:
Tsakos Energy Navigation Limited (TNP)
Date announced:
9/25/2013
Shares Offered:
2,000,000
Date of Pricing:
9/26/2013
Price Per Share:
$25
Preferred Stock Offering Details:
Tsakos Energy Navigation Limited ("TEN") (NYSE: TNP), a leading product, crude and LNG tanker operator, today announced that it plans to offer its Series C Cumulative Redeemable Perpetual Preferred Shares (the "Series C Preferred Shares") in a public offering under its effective shelf registration statement. --updated 9/26 - Tsakos Energy Navigation Limited ("TEN") (NYSE: TNP), a leading product, crude and LNG tanker operator, today announced the pricing of its $50 million offering of 8 7/8% Series C Cumulative Redeemable Perpetual Preferred Shares in a public offering under its effective shelf registration statement at $25.00 per share. The Company has also granted the underwriters a 30-day option to purchase up to $7.5 million of additional Series C Preferred Shares.
Tsakos Energy Navigation Ltd is a Greece-based provider of international seaborne crude oil and petroleum product transportation services. Co. operates through the maritime transportation of liquid energy-related products segment. Co.'s fleet consists of 70 vessels, constituting a mix of crude tankers, product tankers, and liquefied natural gas (LNG) carriers, totaling more than 7 million dwt. It includes VLCC, Aframax, Panamax, handysize, handymax tankers, LNG carrier, and DP2 shuttle tankers, which allows the Co. to serve its customers' international petroleum product and crude oil transportation needs.
Preferreds: TNP.PRB, TNP.PRC, TNP.PRD, TEN.PRE, TEN.PRF
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Avg. Broker Rec.
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Strong Buy (4.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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