Sector: Shipping
GasLog Partners LP 8.20% Series B Cumulative Redeemable Perpetual Fixed-to-Floating Rate Preference Units
Shares shall carry a coupon of 8.20% until 3/15/2023 at which time the coupon will float at the rate of 3 month libor plus a spread of 5.839%.
Investors in this security will receive a 1099 NOT a K-1 as GasLog Partners has chosen to be taxed as a C-Corp.
GasLog Partners merged with Gaslog LTD on 7/13/2023. Gaslog LTD is the surviving company, but Gaslog Partners preferreds remain outstanding. Gaslog LTD had previously done a ‘take private’ deal and thus is not publicly traded.
This issue will trade with 3 month SOFR + .2616% replacing LIBOR. So 3 month SOFR + .2616 will be added to a spread of 5.839%
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.
On 4/15/2021 Golar was acquired by New Fortress Energy (NFE) and these shares have been delisted–although they remain outstanding
Shares are now trading on the OTC Pink Sheets under Ticker GMLPF
Star Bulk Carriers Corp. 8.30% Senior Notes due 11/15/2022
Hoegh LNG Partners 8.75% Series A Cumulative Redeemable Preferred Units
While a partnership Hoegh is taxed as a c corp and this the dividend is qualified
Hoegh LNG Partners has been merged with Hoegh LNG Holdings Limited effect 9/23/2022
This preferred stock issue is to be delisted effective 1/2/2023 – press release is here https://hoeghlngpartners.com/press-releases/press-release-details/2022/Hegh-LNG-Partners-LP-to-Voluntarily-Delist-its-8.75-Series-A-Cumulative-Redeemable-Preferred-Units/default.aspx