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%)
Sector: Shipping
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
Altera Infrastructure filed Chapter 11 on 8/15/2022
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
Dividends Suspended 7/29/2021
Altera Infrastructure Partners LP, 7.25% Series A Cumulative Redeemable Preferred Units
Altera Infrastructure filed Chapter 11 on 8/15/2022
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
Dividends Suspended 7/29/2021