A total of 7,927,288 shares of Series A preferreds are now outstanding as of 12/31/2018. The company has used the shares a number of times while doing acquisitions. 20% of the shares will be redeemed, on a pro-rata basis, not later than 2/9/2020. These shares have a maturity date 9 years after initial issuance, which was in 2017
On 12/23/2019 the company announced the redemption of 1.6 million shares of the preferred stock–20.2% of the outstanding shares.
On 12/31/2021 and 12/31/2022 there were 6,422,128 shares of preferred outstanding
Shares are redeemable anytime at the option of the company for cash or common shares or a combination of cash and shares
Investors in this security will receive a K-1
Coupon is fixed at 9.625% until 4/15/2024 at which point it begins to float at 3 month Libor plus a spread of 7.384%
6/3/2021 dividends are suspended
Rate will be fixed at 8.75% until 11/22/2023 at which point it will float at a rate 3 month Libor plus a spread of 5.593%
Distributions for this security are qualified for tax purposes as Dynagas has chosen to be taxed as a C-Corp.
Originally issued by Fifth Street Finance
Coupon is fixed at 9% until 7/2022 after which it floats at a rate of 3 month Libor plus a spread of 7.213%
6/3/2021 dividends are suspended
The dividend payment floats at a rate of the higher of 7% OR 3 month Libor plus a spread of 4.698% until 5/15/2025 at which point the dividend will be 9%.
Coupon is fixed at 7.95% until 10/15/2023 after which it will float at a rate of 3 month Libor plus a spread of 4.882%
DCP Midstream was bought by Phillips 66 on 6/15/2023
Preferreds redeemed on 10/16/2023
Coupon is fixed until 8/14/2023 after which it will float at the rate of 3 month Libor plus a spread of 6.774%
Effective 9/30/2019 Oaktree Capital is now owned by Broofild Asset Management
