April 20, 2005 (Overland Park, KS) Tortoise Energy Infrastructure Corporation (NYSE:TYG) announced today that it entered into an interest rate swap arrangement to hedge its interest payment obligations on its recently issued series of auction rate senior notes ("Series C Tortoise Notes," $55mm aggregate principal amount) through April 2014. The Series C Tortoise Notes were rated 'Aaa' and 'AAA' by Moody's Investors Services, Inc. and Fitch Ratings, respectively.
In addition, the Company extended its interest rate swap arrangements with respect to its outstanding Series A and Series B Tortoise Notes ($60mm and $50mm aggregate principal amount, respectively) through June 2011.
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, L.L.C. serves as the adviser 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.
Tortoise Energy Infrastructure Corporation
Investor Relations, 913-981-1020