Tortoise provides unaudited balance sheet information and asset coverage ratio updates as of December 31, 2021 for TYG, NTG, TTP, NDP and TPZ


OVERLAND PARK, Kan .– (COMMERCIAL THREAD) – Tortoise today announced the following unaudited balance sheet information and asset coverage ratio updates for TYG, NTG, TTP, NDP and TPZ.

Tortoise Energy Infrastructure Corp. (NYSE: TYG) announced today that as of December 31, 2021, the company’s total unaudited assets were approximately $ 573.6 million and its unaudited net asset value was $ 424.9 million, or $ 35.63 $ per share.

As of December 31, 2021, the coverage ratio of the company’s assets under the 1940 law on senior debt securities was 544% and its coverage ratio for preferred shares was 405%. For more information on the company’s coverage ratios, please refer to the Leverage Summary web page at https://cef.tortoseecofin.com.

Below is a summary of the company’s unaudited balance sheet as at December 31, 2021.

Unaudited balance sheet

(in millions)

Per share

Investments

$ 572.0

$ 47.95

Cash and cash equivalents

0.3

0.03

other assets

1.3

0.11

Total assets

573.6

48.09

Short-term loans

17.9

1.50

Senior Notes

85.8

7.20

Preferred stock

35.7

2.99

Total leverage

139.4

11.69

Other liabilities

2.6

0.21

Current tax liability

6.7

0.56

Net assets

$ 424.9

$ 35.63

11.93 million common shares currently outstanding.

Tortoise Midstream Energy Fund, Inc. (NYSE: NTG) today announced that as of December 31, 2021, the company’s total unaudited assets were approximately $ 276.7 million and its unaudited net asset value was $ 211.5 million, or $ 37.48 dollars per share.

As of December 31, 2021, the coverage ratio of the company’s assets under the 1940 law on senior securities representing indebtedness was 647% and its coverage ratio for preferred shares was 441%. For more information on the company’s coverage ratios, please refer to the Leverage Summary web page at https://cef.tortoseecofin.com.

Below is a summary of the company’s unaudited balance sheet as at December 31, 2021.

Unaudited balance sheet

(in millions)

Per share

Investments

$ 275.6

$ 48.84

Cash and cash equivalents

0.3

0.06

other assets

0.8

0.13

Total assets

276.7

49.03

Short-term loans

10.1

1.79

Senior Notes

32.2

5.70

Preferred stock

19.7

3.49

Total leverage

62.0

10.98

Other responsibility

1.3

0.24

Current tax liability

1.9

0.33

Net assets

$ 211.5

$ 37.48

5.64 million common shares currently outstanding.

Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) announced today that as of December 31, 2021, the company’s total unaudited assets were approximately $ 84.0 million and its unaudited net asset value was $ 63.8 million, or 28.62 $ per share.

As of December 31, 2021, the coverage ratio of the company’s assets under the 1940 law on senior debt securities was 616% and its coverage ratio for preferred shares was 425%. For more information on the company’s coverage ratios, please refer to the Leverage Summary web page at https://cef.tortoseecofin.com.

Below is a summary of the company’s unaudited balance sheet as at December 31, 2021.

Unaudited balance sheet

(in millions)

Per share

Investments

$ 83.1

$ 37.28

Cash and cash equivalents

0.5

0.23

other assets

0.4

0.19

Total assets

84.0

37.70

Short-term loans

9.6

4.31

Senior Notes

3.9

1.77

Preferred stock

6.1

2.74

Total leverage

19.6

8.82

Other liabilities

0.6

0.26

Net assets

$ 63.8

$ 28.62

2.23 million common shares currently outstanding.

Tortoise Energy Independence Fund, Inc. (NYSE: NPD) announced today that as of December 31, 2021, the company’s total unaudited assets were approximately $ 50.1 million and its unaudited net asset value was $ 47.4 million, or 25.67 dollars per share.

As of December 31, 2021, the company’s asset coverage ratio within the meaning of the 1940 law on senior securities representing debt was 2,075%. For more information on the company’s coverage ratios, please refer to the Leverage Summary web page at https://cef.tortoseecofin.com.

Below is a summary of the company’s unaudited balance sheet as at December 31, 2021.

Unaudited balance sheet

(in millions)

Per share

Investments

$ 49.5

$ 26.83

Cash and cash equivalents

0.4

0.24

other assets

0.2

0.07

Total assets

50.1

27.14

Credit facility borrowings

2.4

1.30

Other liabilities

0.3

0.17

Net assets

$ 47.4

$ 25.67

1.85 million common shares currently outstanding.

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) today announced that as of December 31, 2021, the company’s total unaudited assets were approximately $ 125.2 million and its unaudited net asset value was $ 100.4 million, or 15.39 $ per share.

As of December 31, 2021, the company’s asset coverage ratio within the meaning of the 1940 law on senior securities representing debt was 513%. For more information on the company’s coverage ratios, please refer to the Leverage Summary web page at https://cef.tortoseecofin.com.

Below is a summary of the company’s unaudited balance sheet as at December 31, 2021.

Unaudited balance sheet

(in millions)

Per share

Investments

$ 123.7

$ 18.95

Cash and cash equivalents

0.5

0.08

other assets

1.0

0.16

Total assets

125.2

19.19

Credit facility borrowings

24.3

3.72

Other liabilities

0.5

0.08

Net assets

$ 100.4

$ 15.39

6.53 million common shares currently outstanding.

The top 10 holdings of TYG, NTG, TTP, NDP and TPZ at the end of the most recent month are available on each fund’s portfolio webpage at https://cef.tortoiseecofin.com.

About the turtle

Tortoise focuses on energy and electrical infrastructure and the transition to cleaner energy. Tortoise’s strong track record of energy value chain investment experience and research dates back over 20 years. As one of the early investors in mid-level energy, Tortoise believes it is well positioned to be at the forefront of the ongoing global energy evolution. With a constant earnings approach and a long-term perspective, Tortoise strives to have a positive impact on customers and communities. To learn more, please visit www.TortueEcofin.com.

Tortoise Capital Advisors, LLC is the advisor to Tortoise Energy Infrastructure Corp., Tortoise Midstream Energy Fund, Inc., Tortoise Pipeline & Energy Fund, Inc., Tortoise Energy Independence Fund, Inc. and Tortoise Power and Energy Infrastructure Fund, Inc.

For more information on these funds, please visit cef.tortoseecofin.com.

Safe Harbor Declaration

This press release does not constitute an offer to sell or a solicitation to buy, and there will be no sale of such securities in any state or jurisdiction in which such an offer or solicitation or sale would be illegal prior to registration. or qualification under the laws of that state or jurisdiction.

Caution regarding forward-looking statements

This press release contains certain statements which 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 , are included in this document. are “forward-looking statements”. Although the funds and Tortoise Capital Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they involve assumptions, risks and uncertainties, and these expectations may prove to be inaccurate. Actual results could differ materially from those anticipated in these forward-looking statements due to various factors, including those discussed in the fund’s reports which 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. Except as required by law, the funds and Tortoise Capital Advisors assume no obligation to update this forward-looking statement.


Source link

Previous How to read Apple's balance sheet
Next 2022 SEC Filing Deadlines and Financial Statement Obsolescence Dates Calendar Year Business Filing Deadlines1 - Corporate / Commercial Law