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

Redeemed 07/30/2019

Ticker: TNP-B

Parent Ticker: TNP

OTC Grey Market Temporary Ticker: NA

Issuance Date: 05/02/2013

1st Call Date: 07/30/2018

Maturity Date: None

Shares Issued: 2,000,000

Overallotment Shares: 300,000

Coupon: 8.00%

Face Value: $25.00

Cumulative: Yes

Qualified: Yes

Quarterly Dividend Amount: 0.500

Payment Months: JAN, APR, JUL, OCT

Payment Day: 30

S&P Rating: NR

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

Moody Rating: NR

Fitch Rating: NR

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