Smaller MLP Dynagas LNG will be selling a new issue of fixed-to-floating rate preferred units. The company is a shipping company which only owns LNG carriers (6 at the current time).
Of course details are not yet known, but the fixed rate will remain until 2023 (5 years).
Dynagas (NYSE:DNLG) currently has 1 other preferred issue outstanding that carries a coupon of 9%–the issue can be seen here.
NOTE that DNLG issues a 1099 instead of a K-1 at tax time–one of the few partnerships which does this.
Thanks to Eugene for the quick heads up on this new issue.