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Tortoise Energy Infrastructure Corp. Provides Unaudited Balance Sheet Information And Asset Coverage Ratio Update As Of Jan. 31, 2013

Stock quotes in this article: TYG 

Tortoise Energy Infrastructure Corp. (NYSE: TYG) today announced that as of Jan. 31, 2013, the company’s unaudited total assets were approximately $1.9 billion and its unaudited net asset value was $1.1 billion, or $39.61 per share.

As of Jan. 31, 2013, the company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act) and basic maintenance covenants. The company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 565 percent, and its coverage ratio for preferred shares was 432 percent. For more information on calculation of coverage ratios, please refer to the company’s most recent applicable prospectus.

The company issued 75,951 shares of common stock under its at-the-market equity offering program for gross proceeds of approximately $3.1 million during the month of January 2013.

Set forth below is a summary of the company’s unaudited balance sheet at Jan. 31, 2013 and a summary of its top 10 holdings.

Unaudited Balance Sheet

    (in Millions)     Per Share
Investments $ 1,884.7 $ 66.43
Cash and Cash Equivalents 0.1 0.00
Other Assets 14.2 0.50
Total Assets 1,899.0 66.93
 
Short-Term Borrowings 48.6 1.71
Senior Notes 210.0 7.40
Preferred Stock 80.0 2.82
Total Leverage 338.6 11.93
 
Other Liabilities 3.6 0.13
Deferred Tax Liability 433.1 15.26
Net Assets $ 1,123.7 $ 39.61

28.37 million common shares currently outstanding.

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