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

Stocks in this article: TYG

Tortoise Energy Infrastructure Corp. (NYSE: TYG) today announced that as of Oct. 31, 2013, the company’s unaudited total assets were approximately $2.2 billion and its unaudited net asset value was $1.2 billion, or $43.19 per share.

As of Oct. 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 490 percent, and its coverage ratio for preferred shares was 396 percent. For more information on calculation of coverage ratios, please refer to the company’s most recent applicable prospectus.

The company issued 27,353 shares of common stock under its at-the-market equity offering program for gross proceeds of approximately $1.2 million during the month of October 2013.

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

Unaudited Balance Sheet

    (in Millions)     Per Share
Investments $ 2,150.8 $ 75.30
Cash and Cash Equivalents 0.2 0.01
Other Assets 21.1 0.74
Total Assets 2,172.1 76.05
 
Short-Term Borrowings 67.2 2.35
Senior Notes 270.0 9.46
Preferred Stock 80.0 2.80
Total Leverage 417.2 14.61
Other Liabilities 4.1 0.14
Deferred Tax Liability 517.3 18.11
Net Assets $ 1,233.5 $ 43.19

28.56 million common shares currently outstanding.

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