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OVERLAND PARK, KS / ACCESSWIRE / January 2, 2025 / Tortoise Capital today announced the following unaudited balance sheet information and asset coverage ratio updates for closed-end funds TYG and TEAF.
Tortoise Energy Infrastructure Corp. (NYSE:TYG) today announced that as of Dec. 31, 2024, the company's unaudited total assets were approximately $992.7 million and its unaudited net asset value was $800.6 million, or $46.45 per share.
As of Dec. 31, 2024, the company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 716%, and its coverage ratio for preferred shares was 540%. For more information on the company's coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseadvisors.com.
Set forth below is a summary of the company's unaudited balance sheet at Dec. 31, 2024.
Unaudited balance sheet
| (in Millions) | Per Share | |
| Investments | $ 989.3 | $ 57.40 |
| Cash and Cash Equivalents | 0.7 | 0.04 |
| Other Assets | 2.7 | 0.16 |
| Total Assets | 992.7 | 57.60 |
| Short-Term Borrowings | 39.2 | 2.27 |
| Senior Notes | 98.1 | 5.69 |
| Preferred Stock | 44.9 | 2.61 |
| Total Leverage | 182.2 | 10.57 |
| Other Liabilities | 4.1 | 0.25 |
| Deferred Tax Liability | 5.6 | 0.32 |
| Current Tax Liability | 0.2 | 0.01 |
| Net Assets | $ 800.6 | $ 46.45 |
17.24 million common shares currently outstanding.
Tortoise Sustainable and Social Impact Term Fund (NYSE:TEAF) today announced that as of Dec. 31, 2024 the company's unaudited total assets were approximately $220.9 million and its unaudited net asset value was $188.4 million, or $13.96 per share.
As of Dec. 31, 2024, the company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 698%. For more information on the company's coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseadvisors.com.
Set forth below is a summary of the company's preliminary unaudited balance sheet at Dec. 31, 2024.
Unaudited balance sheet
| (in Millions) | Per Share | |
| Investments | $ 215.3 | $ 15.96 |
| Cash and Cash Equivalents | 4.2 | 0.31 |
| Other Assets | 1.4 | 0.10 |
| Total Assets | 220.9 | 16.37 |
| Credit Facility Borrowings | 31.5 | 2.33 |
| Other Liabilities | 1.0 | 0.08 |
| Net Assets | $ 188.4 | $ 13.96 |
13.49 million common shares outstanding.
The top 10 holdings for TYG and TEAF as of the most recent month-end can be found on each fund's portfolio web page at https://cef.tortoiseadvisors.com.
TEAF also provides update on direct investments.
TEAF provides an update on the fund's direct investments on the company website at https://cef.tortoiseadvisors.com/funds/teaf/#portfolio. Details on each private deal that has taken place over the prior month will be published on the website at https://cef.tortoiseadvisors.com/funds/teaf/#deal-summaries-list. The list includes all deals completed since the fund's inception. Updates will continue to be posted on a monthly basis if there was a deal during the prior month until the fund reaches its target of 60% direct investments.