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

Dividends on the Series F Preferred Shares are cumulative from the date of original issue and will be payable quarterly in arrears on the 30th day of January, April, July and October of each year, commencing October 30, 2018, when, as and if declared by our board of directors. Dividends will be payable from cash available for dividends (i) from and including the original issue date to, but excluding, July 30, 2028 at a fixed rate equal to 9.50% per annum of the stated liquidation preference and (ii) from and including July 30, 2028, at a floating rate equal to three-month LIBOR plus a spread of 6.54% per annum of the stated liquidation preference. At any time on or after July 30, 2028, the Series F 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:  06/22/2018
Outstanding shares:  5,400,000
Average volume:  29,287
Market cap:   $132,300,000
Current dividend yield:  9.69%    calculation
Initial coupon rate:    9.500%
Spread to LIBOR: 0.065400
Cumulative:    Yes
Liquidation value:   $25.00
Callable after:   07/30/2028
Maturity date:    n/a - perpetual
Prospectus:    Read on SEC.gov
All SEC filings:   SEC Edgar Online
Annual filings:      20-F
CUSIP:    G9108L165
ISIN:        BMG9108L1651
Sedol:      BDFXQC8

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