Tortoise Energy Infrastructure Corp. Provides Unaudited Balance Sheet Information And Asset Coverage Ratio Update As Of Oct. 31, 2016

Tortoise Energy Infrastructure Corp. (NYSE: TYG) today announced that as of Oct. 31, 2016, the company's unaudited total assets were approximately $2.6 billion and its unaudited net asset value was $1.4 billion, or $28.70 per share.

As of Oct. 31, 2016, 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 386 percent, and its coverage ratio for preferred shares was 297 percent. For more information on calculation of coverage ratios, please refer to the company's most recent applicable prospectus.

The company issued 5,950 shares of common stock under its at-the-market equity offering program for gross proceeds of approximately $0.2 million during the month of October 2016.

Set forth below is a summary of the company's unaudited balance sheet at Oct. 31, 2016 and a summary of its top 10 holdings.

Unaudited balance sheet
  (in Millions)   Per Share
Investments $ 2,525.0 $ 51.63
Cash and Cash Equivalents 0.1 0.00
Current Tax Asset 4.6 0.10
Other Assets   25.1   0.51
Total Assets   2,554.8   52.24
 
Credit Facility Borrowings 106.5 2.18
Senior Notes 442.5 9.05
Preferred Stock   165.0   3.37
Total Leverage   714.0   14.60
 
Other Liabilities 9.5 0.20
Deferred Tax Liability   427.6   8.74
Net Assets $ 1,403.7 $ 28.70
 

48.90 million common shares currently outstanding.
 

Top 10 holdings (as of Oct. 31, 2016)

Name
 

Ticker
 

MarketValue (in Millions)
 

% of Investment Securities (1)
ONEOK Partners, L.P. OKS $ 197.0 7.8%
Magellan Midstream Partners, L.P. MMP 191.6 7.6%
Plains All American Pipeline, L.P. PAA 185.1 7.3%
Energy Transfer Partners, L.P. ETP 178.7 7.1%
Western Gas Partners, L.P. WES 176.0 7.0%
Enterprise Products Partners, L.P. EPD 173.8 6.9%
Buckeye Partners, L.P. BPL 163.4 6.5%
Sunoco Logistics Partners L.P. SXL 152.4 6.0%
EQT Midstream Partners, L.P. EQM 135.0 5.3%
Spectra Energy Partners, L.P. SEP 108.0 4.3%
Total $ 1,661.0 65.8%
 

(1) Percent of Investments and Cash Equivalents.
 

About Tortoise Energy Infrastructure Corp.

Tortoise Energy Infrastructure Corp. (NYSE: TYG) owns a portfolio of master limited partnership investments in the energy infrastructure sector. Tortoise Energy Infrastructure Corp.'s objective is to provide its stockholders a high level of total return with an emphasis on current distributions.

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