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Tortoise Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of Aug. 31, 2019 for TYG, NTG, TTP, NDP, TPZ and TEAF

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Tortoise today announced the following unaudited balance sheet information and asset coverage ratio updates for TYG, NTG, TTP, NDP, TPZ and TEAF.

Tortoise Energy Infrastructure Corp. (NYSE:TYG) today announced that as of Aug. 31, 2019, the company's unaudited total assets were approximately $2.0 billion and its unaudited net asset value was $1.1 billion, or $20.43 per share.

As of Aug. 31, 2019, 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 341 percent, and its coverage ratio for preferred shares was 259 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 preliminary balance sheet at Aug. 31, 2019.

Unaudited preliminary balance sheet

 

(in Millions)

Per Share

Investments

$

1,938.8

$

36.08

Cash and Cash Equivalents

 

0.3

 

0.01

Receivable for Investments Sold

 

0.3

 

0.01

Current Tax Asset

 

6.4

 

0.12

Other Assets

 

6.2

 

0.11

Total Assets

 

1,952.0

 

36.33

 

 

 

Credit Facility Borrowings

 

143.9

 

2.68

Senior Notes

 

380.0

 

7.07

Preferred Stock

 

165.0

 

3.07

Total Leverage

 

688.9

 

12.82

 

 

 

Payable for Investments Purchased

 

0.1

 

0.00

Other Liabilities

 

9.6

 

0.18

Deferred Tax Liability

 

155.9

 

2.90

Net Assets

$

1,097.5

$

20.43

 

 

 

53.73 million common shares currently outstanding.

Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) today announced that as of Aug. 31, 2019, the company's unaudited total assets were approximately $1.4 billion and its unaudited net asset value was $786.3 million, or $12.44 per share.

As of Aug. 31, 2019, 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 332 percent, and its coverage ratio for preferred shares was 249 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 preliminary balance sheet at Aug. 31, 2019.

Unaudited preliminary balance sheet

 

(in Millions)

Per Share

Investments

$

1,373.0

$

21.72

Cash and Cash Equivalents

 

0.1

 

0.00

Receivable for Investments Sold

 

2.9

 

0.05

Current Tax Asset

 

1.9

 

0.03

Other Assets

 

1.6

 

0.03

Total Assets

 

1,379.5

 

21.83

 

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