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Tortoise Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of Sept. 30, 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 Sept. 30, 2019, the company's unaudited total assets were approximately $2.0 billion and its unaudited net asset value was $1.1 billion, or $20.89 per share.

As of Sept. 30, 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 346 percent, and its coverage ratio for preferred shares was 263 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, 2019.

Unaudited Balance Sheet
 

 

(in Millions)

Per Share

Investments

$1,973.8

$36.74

Cash and Cash Equivalents

0.2

0.00

Current Tax Asset

7.0

0.13

Other Assets

5.8

0.11

Total Assets

1,986.8

36.98

 

 

 

Credit Facility Borrowings

159.3

2.97

Senior Notes

365.0

6.79

Preferred Stock

165.0

3.07

Total Leverage

689.3

12.83

 

 

 

Other Liabilities

10.8

0.20

Deferred Tax Liability

164.2

3.06

 

Net Assets

$ 1,122.5

$ 20.89

 

53.73 million common shares currently outstanding.

Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) today announced that as of Sept. 30, 2019, the company's unaudited total assets were approximately $1.4 billion and its unaudited net asset value was $803.2 million, or $12.71 per share.

As of Sept. 30, 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 342 percent, and its coverage ratio for preferred shares was 255 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, 2019.

Unaudited balance sheet
 

 

(in Millions)

Per Share

Investments

$1,387.2

$ 21.95

Cash and Cash Equivalents

0.2

0.00

Current Tax Asset

1.9

0.03

Other Assets

1.9

0.03

Total Assets

1,391.2

22.01

 

 

 

Credit Facility Borrowings

109.5

1.73

Senior Notes

277.0

4.38

Preferred Stock

132.0

2.09

Total Leverage

518.5

8.20

 

 

 

Other Liabilities

8.1

0.13

Deferred Tax Liability

61.4

0.97

Net Assets

$ 803.2

$ 12.71

 

 

 

63.21 million common shares currently outstanding.

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) today announced that as of Sept. 30, 2019 the company's unaudited total assets were approximately $213.7 million and its unaudited net asset value was $149.6 million, or $14.94 per share.

As of Sept. 30, 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 454 percent, and its coverage ratio for preferred shares was 338 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, 2019.

Unaud
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