- (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
April 11, 2005 (Overland Park, KS) Tortoise Energy Infrastructure Corporation (NYSE:TYG) announced today that it has successfully completed an offering of an aggregate principal amount of $55 million of Auction Rate Senior Notes, Series C ("Tortoise Notes"). The Series C Tortoise Notes are rated 'Aaa' and 'AAA' by Moody's Investors Services, Inc. and Fitch Ratings, respectively, and were issued in denominations of $25,000. Lehman Brothers Inc. acted as book running manager, and Stifel, Nicolaus & Company, Incorporated also participated as an underwriter for the offering. Tortoise Notes may only be bought or sold through an auction or in a secondary market maintained by certain broker-dealers.
The Company intends to invest the net proceeds of this offering in securities of energy infrastructure companies that meet its investment objectives. Following the issuance of the Tortoise Notes, total assets of Tortoise Energy will be approximately $670 million.
About Tortoise Energy
Tortoise Energy Infrastructure Corporation owns a portfolio of investments in the energy infrastructure sector, primarily pipeline and processing Master Limited Partnerships. Tortoise Energy's goal is to provide its stockholders with a high level of total return with an emphasis on current distributions to stockholders.
Tortoise Capital Advisors serves as the advisor to Tortoise Energy Infrastructure Corporation.
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.
Contact: Tortoise Energy Infrastructure Corporation Investor Relations, 913-981-1020 www.tortoiseenergy.com