Our site runs on donations to keep it running for free. Please consider donating if you enjoy your experience here!

Targa Resources Partners, 9.00% Series A Fixed-to-Floating Cumulative Redeemable Perpetual Preferred Units

Coupon will be fixed at 9% until 11/01/2020 after which it will float at the rate of 1 month Libor plus a spread of 7.71%

This issue comes with a K-1 at tax time.

Redeemed 12/21/2020

Ticker: NGLS-A

Parent Ticker: TRGP

OTC Grey Market Temporary Ticker: NA

Issuance Date: 10/07/2015

1st Call Date: 11/01/2020

Maturity Date: None

Shares Issued: 4,400,000

Overallotment Shares: 660,000

Coupon: 9.00%

Face Value: $25.00

Cumulative: Yes

Qualified: No

Quarterly Dividend Amount: 0.1875

Payment Months: Pays Every Month

Payment Day: 15

S&P Rating: B+

III Rating (In Regards to Dividend Safety Only): C

Moody Rating: Ba3

Fitch Rating: NR