Tortoise Energy Independence Fund Provides Unaudited Balance Sheet Information And Asset Coverage Ratio Update As Of Dec. 31, 2012
Tortoise Energy Independence Fund, Inc. (NYSE: NDP) today announced that as of Dec. 31, 2012, the company’s unaudited total assets were approximately $382.4 million and its unaudited net asset value was $330.6 million, or $22.79 per share.
As of Dec. 31, 2012, the company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act). The company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 764 percent. For more information on calculation of coverage ratios, please refer to the company’s most recent applicable prospectus.
Set forth below is a summary of the company’s unaudited balance sheet at Dec. 31, 2012 and a summary of its top 10 holdings.
Unaudited Balance Sheet
| (in Millions) | Per Share | |||||
| Investments | $ | 381.1 | $ | 26.27 | ||
| Cash and Cash Equivalents | 0.9 | 0.06 | ||||
| Other Assets | 0.4 | 0.03 | ||||
| Total Assets | 382.4 | 26.36 | ||||
| Short-Term Borrowings | 49.8 | 3.43 | ||||
| Other Liabilities | 2.0 | 0.14 | ||||
| Net Assets | $ | 330.6 | $ | 22.79 | ||
| 14.50 million common shares currently outstanding. | ||||||
| Name | MarketValue (in Millions) | % ofInvestment Securities (1) | ||||
| Occidental Petroleum Corp. | $ | 17.1 | 4.5 | % | ||
| Anadarko Petroleum Corp. | 16.9 | 4.4 | % | |||
| Pioneer Natural Resources Co. | 16.5 | 4.3 | % | |||
| Apache Corporation | 13.9 | 3.6 | % | |||
| EOG Resources, Inc. | 12.9 | 3.4 | % | |||
| Denbury Resources Inc. | 11.5 | 3.0 | % | |||
| Range Resources Corp. | 11.3 | 3.0 | % | |||
| Continental Resources Inc. | 11.3 | 3.0 | % | |||
| Enbridge Energy Management, LLC | 11.3 | 3.0 | % | |||
| Crescent Point Energy Corp. | 10.8 | 2.8 | % | |||
| Total | $ | 133.5 | 35.0 | % | ||
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