OVERLAND PARK, Kan. - March 28, 2007 - Tortoise Energy Infrastructure Corp. (NYSE: TYG) today announced that the company has priced the sale of 427,915 newly issued shares of its common stock. The shares are being sold to certain institutional investors at yesterday's closing price of $37.16 per share. The company estimates that its net proceeds from this offering, after expenses, will be approximately $15.5 million. The company intends to use all of the net proceeds to retire short-term debt outstanding under its unsecured credit facility. The company now has approximately 18.7 million common shares outstanding.
Stifel, Nicolaus & Company, Inc. acted as the placement agent for this offering.
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's goal is to provide its stockholders a high level of total return with an emphasis on current dividends.
About Tortoise Capital Advisors, LLC
Tortoise Capital Advisors, LLC, the adviser to Tortoise Energy Infrastructure Corp., is a pioneer in the capital markets for master limited partnership (MLP) investment companies and a leader in closed-end funds and separately managed accounts focused on MLPs in the energy infrastructure sector. As of Feb. 28, 2007, the adviser had approximately $2.5 billion of energy infrastructure investment assets under management.
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 the 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.
Contact information: Tortoise Capital Advisors, LLC Pam Kearney, Investor Relations, (866) 362-9331, firstname.lastname@example.org