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Tortoise Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of Oct. 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 Oct. 31, 2019, the company's unaudited total assets were approximately $1.9 billion and its unaudited net asset value was $1.0 billion, or $19.39 per share.

As of Oct. 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 328 percent, and its coverage ratio for preferred shares was 250 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 Oct. 31, 2019.

Unaudited Balance Sheet

 

   

(in Millions)

   

Per Share

Investments

   

$1,847.6

   

$34.39

Cash and Cash Equivalents

   

0.2

   

0.00

Receivable for Investments Sold

   

0.3

   

0.01

Current Tax Asset

   

8.7

   

0.16

Other Assets

   

28.0

   

0.52

Total Assets

   

1,884.8

   

35.08

 

   

 

   

 

Credit Facility Borrowings

   

164.3

   

3.06

Senior Notes

   

365.0

   

6.79

Preferred Stock

   

165.0

   

3.07

Total Leverage

   

694.3

   

12.92

 

   

 

   

 

Other Liabilities

   

7.8

   

0.15

Deferred Tax Liability

   

140.9

   

2.62 

Net Assets

   

$ 1,041.8

   

$ 19.39

 

   

 

   

 

53.73 million common shares currently outstanding. 

Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) today announced that as of Oct. 31, 2019, the company's unaudited total assets were approximately $1.3 billion and its unaudited net asset value was $747.5 million, or $11.83 per share.

As of Oct. 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 318 percent, and its coverage ratio for preferred shares was 240 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 Oct. 31, 2019.

Unaudited balance sheet

 

   

(in Millions)

   

Per Share

Investments

   

$1,310.4

   

$ 20.73

Cash and Cash Equivalents

   

0.5

   

0.01

Receivable for Investments Sold

   

0.2

   

0.00

Current Tax Asset

   

2.0

   

0.03

Other Assets

   

17.7

   

0.28

Total Assets

   

1,330.8

   

21.05

 

   

 

   

 

Credit Facility Borrowings

   

125.7

   

1.99

Senior Notes

   

277.0

   

4.38

Preferred Stock

   

132.0

   

2.09

Total Leverage

   

534.7

   

8.46

 

   

 

   

 

Other Liabilities

   

3.8

   

0.05

Deferred Tax Liability

   
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