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Home>Tortoise Energy Infrastructure Corp. Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Update as of Sept. 30, 2017

Tortoise Energy Infrastructure Corp. Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Update as of Sept. 30, 2017

Tortoise Energy Infrastructure Corp. Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Update as of Sept. 30, 2017

10/03/2017

Tortoise Energy Infrastructure Corp. Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Update as of Sept. 30, 2017

Tortoise Energy Infrastructure Corp. (NYSE: TYG) today announced that as of Sept. 30, 2017, the company’s unaudited total assets were approximately $2.5 billion and its unaudited net asset value was $1.3 billion, or $26.57 per share.

As of Sept. 30, 2017, 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 381 percent, and its coverage ratio for preferred shares was 290 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 Sept. 30, 2017 and a summary of its top 10 holdings.

Unaudited balance sheet

    (in Millions)     Per Share
Investments $ 2,444.6 $ 49.57
Cash and Cash Equivalents 0.2 0.01
Receivable for Investments Sold 2.2 0.05
Other Assets   3.7   0.07
Total Assets   2,450.7   49.70
 
Credit Facility Borrowings 113.2 2.30
Senior Notes 412.5 8.36
Preferred Stock   165.0   3.35
Total Leverage   690.7   14.01
 
Other Liabilities 11.5 0.23
Current Tax Liability 26.9 0.54
Deferred Tax Liability   411.5   8.35
Net Assets $ 1,310.1 $ 26.57
 

49.31 million common shares currently outstanding.

 
 

Top 10 holdings (as of Sept. 30, 2017)

 
Name    

 

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