Dynagas LNG Partners announces partial redemption of preferred units

Dynagas LNG Partners LP has announced plans to redeem two million of its outstanding Series A preferred units, exercising an optional redemption provision under the partnership’s existing capital structure.

The LNG shipping partnership has issued a formal redemption notice to holders of its 9.00% Series A Cumulative Redeemable Preferred Units, which trade on the New York Stock Exchange under the symbol DLNG PRA. The redemption is scheduled for 12 November 2026 and will cover two-thirds of the three million Series A preferred units currently outstanding.

At a redemption price of $25 per unit, the transaction will involve a total cash payment of $50 million. Following completion, one million Series A preferred units will remain outstanding, retaining their existing rights and preferences under the partnership agreement.

Redemption scheduled for November

Dynagas LNG Partners confirmed that the redemption price will be paid in cash on 12 November 2026. The date coincides with a scheduled distribution payment date for the Series A preferred units, meaning there will be no accumulated and unpaid distributions at the time of redemption.

Once the transaction is completed, the redeemed units will cease to be outstanding, and the associated holder rights will terminate, apart from the right to receive the redemption payment. The remaining one million units will continue to be governed by the terms of the partnership’s Fourth Amended and Restated Agreement of Limited Partnership.

Computershare Trust Company, N.A. has been appointed as paying agent for the transaction. As the preferred units are held through The Depository Trust Company (DTC), the units selected for redemption will be surrendered automatically through the applicable DTC procedures.