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Tortoise Energy Infrastructure Corp.
TYG today announced that it has
priced the sale of 8,000,000 of its 4.375 percent Series B Mandatory
Redeemable Preferred (MRP B) Shares at $10.00 per share. The company estimates
that its net proceeds from this offering, after expenses, will be
approximately $78 million.
The company intends to use the net proceeds of this offering to redeem all $73
million of its outstanding 6.25 percent Series A Mandatory Redeemable
Preferred Shares. The company also may use net proceeds from this offering to
retire a portion of its short-term debt outstanding under its credit facility,
to invest in energy infrastructure companies in accordance with its investment
objective and policies or for working capital purposes.
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