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Tortoise MLP Fund, Inc. Provides Unaudited Balance Sheet Information And Asset Coverage Ratio Update As Of Jan. 31, 2013

Tortoise MLP Fund, Inc. (NYSE: NTG) today announced that as of Jan. 31, 2013, the company’s unaudited total assets were approximately $1.8 billion and its unaudited net asset value was $1.2 billion, or $26.54 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 567 percent, and its coverage ratio for preferred shares was 431 percent. For more information on calculation of coverage ratios, please refer to the company’s most recent applicable prospectus.

The company issued 57,190 shares of common stock under its at-the-market equity offering program for gross proceeds of approximately $1.5 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 $ 1,775.5 $ 38.09
Cash and Cash Equivalents 0.1 0.00
Other Assets   12.9   0.28
Total Assets   1,788.5   38.37
 
Short-Term Borrowings 28.9 0.62
Senior Notes 255.0 5.47
Preferred Stock   90.0   1.93
Total Leverage   373.9   8.02
 
Other Liabilities 3.5 0.08
Deferred Tax Liability   174.1   3.73
Net Assets $ 1,237.0 $ 26.54
 

46.62 million common shares currently outstanding.
 

Top 10 Holdings (as of Jan. 31, 2013)

Name
 

MarketValue (in Millions)
 

% ofInvestment Securities (1)
El Paso Pipeline Partners, L.P. $ 149.6 8.4 %
Energy Transfer Partners, L.P. 136.0 7.7 %
Enterprise Products Partners L.P. 122.2 6.9 %
Williams Partners L.P. 117.2 6.6 %
Regency Energy Partners LP 111.7 6.3 %
Spectra Energy Partners, LP 100.3 5.6 %
Boardwalk Pipeline Partners, LP 97.0 5.5 %
Plains All American Pipeline, L.P. 79.9 4.5 %
Kinder Morgan Management, LLC 75.3 4.2 %
ONEOK Partners, L.P.   71.4 4.0 %
Total $ 1,060.6 59.7 %

(1) Percent of Investments and Cash Equivalents

About Tortoise MLP Fund, Inc.

Tortoise MLP Fund, Inc. owns a portfolio of master limited partnership (MLP) investments in the energy infrastructure sector, with an emphasis on natural gas infrastructure MLPs. Tortoise MLP Fund, Inc.’s goal is to provide its stockholders a high level of total return with an emphasis on current distributions.

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