Tortoise Energy Infrastructure Corp. Provides Unaudited Balance Sheet Information & Asset Coverage Ratio Update as of Oct. 31...

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 InvestmentSecurities(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.

About Tortoise Capital Advisors, L.L.C.

Tortoise Capital Advisors, L.L.C. is an investment manager specializing in energy investments across the energy value chain. As of Sept. 30, 2016, the adviser had approximately $15.6 billion of assets under management in listed closed-end funds, mutual funds, private funds and separate accounts. For more information, visit www.tortoiseadvisors.com.

Safe harbor statement

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Forward-Looking Statement

This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the company and Tortoise Capital Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the company’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the company and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.

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Tortoise Capital Advisors, L.L.C.Pam Kearney, 866-362-9331Investor and Public [e-mail]