NGL to da moon (well, maybe to $10?)!! Message Board

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Gold/Mining/Energy : NGL to da moon (well, maybe to $10?)!!

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From: Elroy	1/29/2024 1:19:26 PM
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If anyone cares about the publicly traded preferred stock for NGL....... my calculation says NGL-B (which is floating already) will be worth $33.98 on April 1st ($25 + $8.98 unpaid arrearage) and NGL-C (which will float on April 15th) is worth $32.82 ($25 + $7.82 unpaid arrearage). Both will actually be worth more than that since the unpaid arrearage is also earning interest. Since NGL has cash from the recent refi, and the C's float beginning this April 15th, it makes sense to me that NGL tries to refinance the preferreds sooner rather than later. The company (to my knowledge) has not said what they plan to do about the preferreds.

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