- (NYSE: TYG) Tortoise Energy Infrastructure Corp.
- (NYSE: NTG) Tortoise Midstream Energy Fund, Inc.
- (NYSE: TTP) Tortoise Pipeline & Energy Fund, Inc.
- (NYSE: NDP) Tortoise Energy Independence Fund, Inc.
- (NYSE: TPZ) Tortoise Power & Energy Infrastructure Fund, Inc.
- (NYSE: TEAF) Ecofin Sustainable and Social Impact Term Fund
LEAWOOD, Kan. – Jan. 21, 2010 – Tortoise Energy Infrastructure Corp. (NYSE: TYG) today announced the pricing of the sale of 2,750,000 shares of common stock at $30.50 per share. UBS Investment Bank and BofA Merrill Lynch served as joint book-running managers for the equity offering. The company has granted the underwriters a 45-day option to purchase a maximum of 412,500 additional shares of common stock to cover over-allotments.
The company intends to use the net proceeds to invest in energy infrastructure companies in accordance with its investment objective and policies or for working capital purposes. Pending such investments, the company anticipates repaying short-term debt outstanding under its credit facility or investing in short-term securities issued by the U.S. government or its agencies and/or instrumentalities and/or in short-term debt obligations or money market instruments.
The offering is made pursuant to an existing effective shelf registration statement on Form N-2 previously filed with the Securities and Exchange Commission. The offering of these securities will be made only by means of a prospectus. A copy of the prospectus supplement and prospectus relating to the offering may be obtained from:
UBS Investment Bank, Prospectus Dept., 299 Park Ave., New York, NY 10171, or by calling UBS toll-free at (888) 827-7275; or BofA Merrill Lynch, Attn: Preliminary Prospectus Department, 4 World Financial Center, New York, NY 10080, or by emailing Prospectus.Requests@ml.com.
Investors may also obtain these documents from the company's Web site at www.tortoiseadvisors.com or the SEC's Web site at www.sec.gov.
About Tortoise Energy Infrastructure Corp.
Tortoise Energy Infrastructure Corp. owns a portfolio of master limited partnership investments in the energy infrastructure sector. Tortoise Energy Infrastructure Corp.'s goal is to provide its stockholders a high level of total return with an emphasis on current distributions.
About Tortoise Capital Advisors, LLC
Tortoise is an investment manager specializing in listed energy infrastructure, such as pipeline and power companies. As of Dec. 31, 2009, Tortoise had approximately $2.8 billion of assets under management in five NYSE-listed investment companies and private accounts. For more information, visit our Web site at www.tortoiseadvisors.com.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
This press release contains certain statements that 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, included herein are "forward-looking statements." Although the company and Tortoise Capital Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the company's reports that 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. Other than as required by law, the company and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.
Contact information: Pam Kearney, Investor Relations, (866) 362-9331, email@example.com