Tortoise North American Energy Corp. Provides Unaudited Balance Sheet Information And Asset Coverage Ratio Update As Of July 31, 2012

Tortoise North American Energy Corp. (NYSE: TYN) today announced that as of July 31, 2012, the company’s unaudited total assets were approximately $224.2 million and its unaudited net asset value was $160.8 million or $25.54 per share.

As of July 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 545 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 July 31, 2012, and a summary of its top 10 holdings.

Unaudited Balance Sheet
  (in Millions)       Per Share
Investments $ 221.2 $35.14
Cash and Cash Equivalents 0.1 0.02
Receivable for Investments Sold 1.9 0.30
Other Assets 1.0 0.15
Total Assets 224.2 35.61
 
Short-Term Borrowings 36.1 5.73
 
Other Liabilities 1.7 0.27
Deferred Tax Liability 25.6 4.07
Net Assets $ 160.8 $25.54

6.30 million common shares currently outstanding.

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