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Golar LNG Partners LP, 8.75% Series A Cumulative Redeemable Preferred Units
Ticker Symbol: GMLPF CUSIP: Y2745C110 Exchange: OTOTC
QUANTUMONLINE.COM SECURITY DESCRIPTION: Golar LNG Partners LP, 8.75% Series A Cumulative Redeemable Preferred Units, liquidation preference $25 per unit, redeemable at the issuer's option on or after 10/31/2022 at $25 per unit plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 8.75% per annum ($2.1875 per annum or $0.546875 per quarter) will be paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record that will be the fifth business day prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). Dividends paid by these preferred units are generally eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) but, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders (see the prospectus for extensive further information starting at page 39). This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (NFE)
Notes: Apr. 23, 2021-- Golar LNG Partners LP (Nasdaq: GMLP) (“GMLP”) announced the completion of its sale to New Fortress Energy Inc. (NASDAQ: NFE) (“NFE”) on April 15, 2021.
In connection with the sale to NFE, NFE has acquired all of the outstanding common units of GMLP for $3.55 per common unit in cash and GMLP’s general partner for equivalent consideration based on the general partner’s economic interest in GMLP.
On April 23, 2021, the GMLP board of directors approved delisting the GMLP’s 8.75% Series A Cumulative Redeemable Preferred Units (the “Preferred Units”). GMLP also plans to give notice to NASDAQ of its intent to voluntarily delist the Preferred Units and to withdraw the registration of its Preferred Units with the Securities and Exchange Commission (“SEC”). April 15, 2021-- Golar LNG Partners LP (Nasdaq: GMLP) (“GMLP”) today announces the completion of its sale to New Fortress Energy Inc. (“NFE”).
Under NFE’s merger agreement with GMLP, NFE acquired all of the outstanding common units of GMLP for $3.55 per common unit in cash. NFE also acquired GMLP’s general partner for equivalent consideration. The transaction is valued at a $1.9 billion enterprise value and $251 million equity value. The Series A preferred units of GMLP will remain outstanding following the merger.
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IPO - 10/24/2017 - 4.80 Million Units @ $25.00 /unit.
Link to IPO Prospectus
Previous Ticker Symbol: GMLPP Changed: 5/21/2021
Market Value $ Million
Click for current GMLPF price quote from the PINK SHEETS
Click for current GMLPF price quote from the NASDAQ
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 111 W. 19th Street, 8th Floor, New York, NY 10011 |
Main Phone Number |
516-268-7400 |
Fax Number |
Not Available |
Investor Contact
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516-268-7400
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CEO - Wesley R. Edens |
CFO - Christopher S. Guinta |
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