Preferred Stock Channel
Teekay LNG Partners LP | 9.00% Series A Cumulative Redeemable Perpetual Preferred Units (TGP.PRA)

Prospectus excerpt:  We are offering 5,000,000 of our 9.00% Series A Cumulative Redeemable Perpetual 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 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 A Preferred Units offered hereby will be payable on January 15, 2017 in an amount equal to $0.5438 per unit. Distributions will be payable out of amounts legally available therefor at an initial rate equal to 9.00% per annum of the stated liquidation preference.

Full Prospectus PDF », TGP Page »

Series:A
Alternate symbology:TGP-A, TGP-PA, TGPprA
Redeemable?:Yes
Call Date:10/5/2021 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:5,000,000
Overallotment:750000
Liquidation Preference:$25
Original Coupon:9.00%
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
CDx3 Compliance Rating: Learn TGP.PRA'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: SEAL.PRA, SEAL.PRB


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Name:  Teekay LNG Partners LP
Website:  www.teekaylng.com
Sector:  Oil & Gas Equipment & Services

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