TNP-E Tsakos Energy Series E Fixed-to-Floating Rate Cumulative Preferred

Dividends on the Series E Preferred Shares are cumulative from the date of original issue and will be payable quarterly in arrears on the 28th day of February, May, August and November of each year, commencing May 28, 2017, when, as and if declared by the board of directors. Dividends will be payable from cash available for dividends (i) from and including the original issue date to, but excluding, May 28, 2027 at a fixed rate equal to 9.25% per annum of the stated liquidation preference and (ii) from and including May 28, 2027, at a floating rate equal to three-month LIBOR plus a spread of 6.881% per annum of the stated liquidation preference. At any time on or after May 28, 2027, the Series E Preferred Shares may be redeemed, in whole or in part, out of amounts available therefor, at a redemption price of $25.00 per share plus an amount equal to all accumulated and unpaid dividends thereon to the date of redemption, whether or not declared.  This security was issued by Tsakos Energy Navigation Ltd, whose common stock symbol is TNP.

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Security Information
Category1:  US Equity
Category2:  Preferred stocks
Category3:  Non-convertible
GICS sector:  Industrials
Industry:  Oil & Gas Midstream
Index country:  Greece
Country of incorporation:  
IPO date:  03/30/2017
Outstanding shares:  4,000,000
Average volume:  9,412
Market cap:   $97,160,000
Current dividend yield:  9.52%    calculation
Initial coupon rate:    9.250%
Spread to LIBOR: 0.068810
Cumulative:    Yes
Liquidation value:   $25.00
Callable after:   05/28/2027
Maturity date:    n/a - perpetual
Prospectus:    Read on SEC.gov
All SEC filings:   SEC Edgar Online
Annual filings:      20-F
CUSIP:    G9108L157
ISIN:        BMG9108L1578
Sedol:      BD584Z2

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