Teekay Offshore Partners (NYSE:TOO) is going to offer and new fixed-to-floating rate preferred which will have the permanent ticker of TOO-E.
TOO has a 7.25% issue and a 8.50% issue currently outstanding and each of them is trading under $25. They are not yet redeemable.
The new issue is cumulative and redeemable starting in 2025.
The company press release can be read here.