(Source: Business Wire)
Tortoise Energy Infrastructure Corp. (NYSE: TYG) today announced that as
of Oct. 31, 2009, the company's unaudited total assets were
approximately $965.2 million and its unaudited net asset value was
$589.9 million, or $24.62 per share.
As of Oct. 31, 2009, 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 454 percent, and its coverage ratio for preferred
shares was 330 percent. For more information on calculation of coverage
ratios, please refer to our most recent applicable prospectus.
The company issued 91,000 shares of common stock under its at-the-market
equity offering program for gross proceeds of approximately $2.4 million
during the month of Oct. 2009.
Set forth below is a summary of the company's unaudited balance sheet at
Oct. 31, 2009, and a summary of its top 10 holdings.
Unaudited Balance Sheet
(in Millions) Per Share
Investments $954.7 $39.85
Cash and Cash Equivalents 0.3 0.01
Receivable for Investments Sold 0.7 0.03
Other Assets 9.5 0.40
Total Assets 965.2 40.29
Short-Term Borrowings 16.3 0.68
Senior Notes 170.0 7.10
Preferred Stock 70.0 2.92
Total Leverage 256.3 10.70
Payable for Investments Purchased 0.9 0.04
Other Liabilities 11.4 0.48
Deferred Tax Liability 106.7 4.45
Net Assets $589.9 $24.62
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23.96 million common shares currently outstanding.
Top 10 Holdings (as of Oct. 31, 2009)
Name Market Value(in Millions) % of InvestmentSecurities(1)
Enterprise Products Partners L.P. $ 89.0 9.3%
Energy Transfer Partners, L.P.
