If redeemed on or after 6/30/2022 and prior to 6/30/2023 the redemption is at 102% plus accrued interest. On or after 6/0/2023 and prior to 6/30/2024 the redemption is at 101% plus accrued interest. On and after 6/30/2024 redemption is at 100% plus accrued interest.
Sector: Shipping
Global Ship Lease 8.00% Senior Unsecured Notes Due 2024
GasLog Partners LP 8.50% Series C Cumulative Redeemable Perpetual Fixed To Floating Rate Preference Units
Shares shall carry a coupon of 8.50% until 3/15/2024 at which time the coupon will float at the rate of 3 month libor plus a spread of 5.317%.
Investors in this security will receive a 1099 NOT a K-1 as GasLog Partners has chosen to be taxed as a C-Corp.
International Seaways 8.50% Senior Notes due 2023
Tsakos Energy Navigation 9.25% Series E Fixed to Floating RateCumulative Redeemable Perpetual Preferred Shares
Coupon will be fixed at 9.25% until 5/28/2027 after which the rate will float at 3 month Libor plus a spread of 6.881%.
Investors will receive a 1099 at tax time as Tsakos Energy Navigation has chosen to be taxed as a c-corp
Scorpio Tankers 8.25% Senior Notes due 2019
Atlas Corp 8% Series I Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares
Reorganized 2/27/2020 with a name change from Seapan to Atlas
Coupon is fixed until 10/30/2023 after which point it floats at a rate of 3 month Libor plus 5.008%
Seaspan Corporation 7.125% Notes due 2027
Reorganized 2/27/2020 with a name change from Seapan to Atlas
Atlas announced plans to call these baby bonds on 10/10/2020–in the meantime they will be delisted.
9/10/2020. Seaspan division of Atlas Corp announced they WOULD NOT redeem this issue at this time. As far as we know these remain delisted.
Tsakos Energy Navigation LTD 9.50% Series F Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock
The coupon is fixed at 9.50% until 7/30/2028 after which the coupon will float at a rate of 3 month Libor plus a spread of 6.54%.
Investors will receive a 1099 at tax time as Tsakos Energy Navigation has chosen to be taxed as a c-corp
GasLog Partners LP, 8.625% Series A Cumulative Redeemable Perpetual Fixed-to-Floating Rates Preference Units
Shares shall carry a coupon of 8.625% until 6/15/2027 at which time the coupon will float at the rate of 3 month libor plus a spread of 6.31%.
Investors in this security will receive a 1099 NOT a K-1 as GasLog Partners has chosen to be taxed as a C-Corp.
Teekay LNG Partners 8.50% Series B Fixed-to-Floating Cumulative Redeemable Perpetual Preferred Units
Coupon is fixed at 8.50% until 10/15/2027 after which it will float at a rate of 3 month Libor plus a spread of 6.241%.
A 1099 will be issued at tax time as Teekay LNG Partners has chosen to be taxed as a c-corp
Altera Infrastructure Partners 8.875% Series E Fixed-to-Floating Cumulative Redeemable Perpetual Preferred Units
Name has changed to Altera Infrastructure LP as of 3/24/2020. Ticker symbols changed at that time. Was previously Teekay Offshore. Altera is owned by Brookfield Business Partners (BBU)
Coupon will be fixed at the rate of 8.875% until 2/15/2025 at which point it will float at the rate of 3 month Libor plus a spread of 6.407%
Investors will receive a 1099 at tax time as Teekay Offshore Partners has chosen to be taxed as a c-corp
Costamare Inc. 8.875% Series E Cumulative Redeemable Perpetual Preferred Stock
Golar LNG Partners LP 8.75% Series A Cumulative Redeemable Preferred Units
Golar LNG Partners is a MLP, but has chosen to be taxed as a C-corp. A 1099 will be issued at tax time.
Star Bulk Carriers Corp. 8.30% Senior Notes due 11/15/2022
Hoegh LNG Partners 8.75% Series A Cumulative Redeemable Preferred Units
Tsakos Energy Navigation Ltd, 8.875% Series C Cumulative Redeem Perp Preferred Shares
Issue has a failure to redeem clause effective 10/30/2020. If not redeemed by this time the coupon moves to 1.25 times 8.875% (11.1%)
Tsakos Energy Navigation Ltd, 8.75% Series D Cumulative Redeemable Perpetual Preferred Shares
Tsakos Energy Navigation Ltd, 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares
This preferred stock issue while technically perpetual contains a failure to redeem clause. If not redeemed by 7/30/2019 shares will pay 1.25 times the 8% coupon (10%) and shall increase at the same rate annually until redeemed to a maximum of 30%.
Shares have been called for redemption on 7/30/2019
Altera Infrastructure Partners LP, 8.50% Series B Cumulative Redeemable Preferred Units
Name has changed to Altera Infrastructure LP as of 3/24/2020. Ticker symbols changed at that time. Was previously Teekay Offshore. Altera is owned by Brookfield Business Partners (BBU)
Investors will receive a 1099 at tax time as Teekay Offshore Partners has chosen to be taxed as a c-corp
Altera Infrastructure Partners LP, 7.25% Series A Cumulative Redeemable Preferred Units
Name has changed to Altera Infrastructure LP as of 3/24/2020. Ticker symbols changed at that time. Was previously Teekay Offshore. Altera is owned by Brookfield Business Partners (BBU)
Investors will receive a 1099 at tax time as Teekay Offshore Partners has chosen to be taxed as a c-corp
Teekay LNG Partners, L.P., 9.00% Series A Cumulative Redeem Perpetual Preferred Units
A 1099 will be issued at tax time as Teekay LNG Partners has chosen to be taxed as a c-corp
Atlas Corp., 8.25% Series E Cumulative Redeemable Perpetual Preferred Shares
Reorganized 2/27/2020 with a name change from Seapan to Atlas
Atlas Corp., 8.20% Series G Cumulative Redeemable Perpetual Preferred Shares
Reorganized 2/27/2020 with a name change from Seapan to Atlas
Atlas Corp., 7.95% Series D Cumulative Redeemable Perpetual Preferred Shares
Reorganized 2/27/2020 with a name change from Seapan to Atlas