Tortoise Announces Leverage Reduction for its Closed-End Funds
Tortoise Energy Infrastructure Corporation (TYG)
US:NYSE Investor Relations:
closedendfunds.tortoiseadvisors.com/tyg/overview
Company Research
Source: Business Wire
LEAWOOD, KS--(BUSINESS WIRE)--Tortoise today announced completing leverage reductions for TYG, NTG and TTP, which results in each company being in compliance with all applicable 1940 Act leverage tests, as well as the covenants on its debt agreements and the terms of its preferred stock. Leverage has been reduced by utilizing cash raised through trading activity in a manner that minimized prepayment premiums in order to maximize shareholder value. Cash remains on company balance sheets that could be used to further reduce leverage. At this point, all Tortoise closed-end funds are in compliance with the 1940 Act leverage tests.Asset Coverage Ratios and LeverageSet forth below is an update on each company’s asset coverage ratios and leverage as well as an unaudited balance sheet at April 14, 2020.Tortoise Energy Infrastructure Corp. (NYSE: TYG)Leverage summary:Total leverage outstanding$129,100,000Leverage as % of total assets31.3%1940 Act Coverage Ratios: Ratio as of 3/31/20204/14/
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News
- Tortoise Capital Announces 2024 Estimated Capital Gain Distributions for its Open End Mutual Funds [Yahoo! Finance]Yahoo! Finance
- Tortoise Capital Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of October 31, 2024, for TYG, NTG, TTP, NDP, TPZ and TEAF [Yahoo! Finance]Yahoo! Finance
- TYG: Continuing Its Strong Recent Track Record [Seeking Alpha]Seeking Alpha
- Tortoise Capital Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of August 30, 2024, for TYG, NTG, TTP, NDP and TPZ [Yahoo! Finance]Yahoo! Finance
- Tortoise Capital Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of August 30, 2024, for TYG, NTG, TTP, NDP and TPZAccesswire
TYG
Sec Filings
- 11/14/24 - Form SC
- 11/8/24 - Form SC
- 11/6/24 - Form EFFECT
- TYG's page on the SEC website