{"id":521760,"date":"2021-08-02T22:33:03","date_gmt":"2021-08-03T02:33:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/tortoiseecofin-announces-release-of-2021-semi-annual-report-and-provides-unaudited-balance-sheet-information-and-asset-coverage-ratio-updates-as-of-july-31-2021-for-tyg-ntg-ttp-ndp-tpz-and-teaf\/"},"modified":"2021-08-02T22:33:03","modified_gmt":"2021-08-03T02:33:03","slug":"tortoiseecofin-announces-release-of-2021-semi-annual-report-and-provides-unaudited-balance-sheet-information-and-asset-coverage-ratio-updates-as-of-july-31-2021-for-tyg-ntg-ttp-ndp-tpz-and-teaf","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/tortoiseecofin-announces-release-of-2021-semi-annual-report-and-provides-unaudited-balance-sheet-information-and-asset-coverage-ratio-updates-as-of-july-31-2021-for-tyg-ntg-ttp-ndp-tpz-and-teaf\/","title":{"rendered":"TortoiseEcofin Announces Release of 2021 Semi-Annual Report and Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of July 31, 2021 for TYG, NTG, TTP, NDP, TPZ and TEAF"},"content":{"rendered":"

<\/p>\n

TortoiseEcofin Announces Release of 2021 Semi-Annual Report and Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of July 31, 2021 for TYG, NTG, TTP, NDP, TPZ and TEAF <\/b><\/p>\n

Tortoise Energy Infrastructure Corp. (NYSE: TYG)
\n
<\/b>Tortoise Midstream Energy Fund, Inc. (NYSE: NTG)
\n
<\/b>Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP)
\n
<\/b>Tortoise Energy Independence Fund, Inc. (NYSE: NDP)
\n
<\/b>Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ)
\n
<\/b>Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF)<\/b><\/p>\n

OVERLAND PARK, Kan.–(BUSINESS WIRE<\/a>)–
\nThe combined 2021 Semi-Annual stockholders\u2019 report for TYG, NTG, TTP, NDP, TPZ and TEAF has been released. This report is available online at cef.tortoiseecofin.com<\/a>. Please call (866) 362-9331 or email info@tortoiseecofin.com<\/a> to request hard copies of this report free of charge. Additionally, the unaudited balance sheet information and asset coverage ratio updates for TYG, NTG, TTP, NDP, TPZ and TEAF as of July 31, 2021 are as follows:\n<\/p>\n

Tortoise Energy Infrastructure Corp. (NYSE: TYG)<\/b> today announced that as of July 31, 2021, the company\u2019s unaudited total assets were approximately $569.4 million and its unaudited net asset value was $408.3 million, or $34.23 per share.\n<\/p>\n

\nAs of July 31, 2021, the company\u2019s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 486 percent, and its coverage ratio for preferred shares was 379 percent. For more information on the company\u2019s coverage ratios, please refer to the leverage summary web page at https:\/\/cef.tortoiseecofin.com<\/a>.\n<\/p>\n

\nSet forth below is a summary of the company\u2019s unaudited balance sheet at July 31, 2021.\n<\/p>\n

Unaudited balance sheet<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

(in Millions)<\/span><\/p>\n<\/td>\n

\n\n\n\n

Per Share<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\nInvestments\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n512.1\n<\/p>\n<\/td>\n

\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n\n

\n42.93\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nCash and Cash Equivalents\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.3\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n0.03\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nIncome Tax Receivable\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n52.1\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n4.36\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther Assets\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4.9\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n0.42\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal Assets\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n569.4\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n47.74\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

\nShort-Term Borrowings\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n30.4\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n2.55\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nSenior Notes\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n83.9\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n7.03\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nPreferred Stock\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n32.3\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n2.71\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal Leverage\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n146.6\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n12.29\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

\nOther Liabilities\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1.9\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n0.16\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nCurrent Tax Liability\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n12.6\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n1.06\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet Assets\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n408.3\n<\/p>\n<\/td>\n

\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n\n

\n34.23\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

\n11.93 million common shares currently outstanding.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Tortoise Midstream Energy Fund, Inc. (NYSE: NTG)<\/b> today announced that as of July 31, 2021, the company\u2019s unaudited total assets were approximately $284.6 million and its unaudited net asset value was $206.9 million, or $36.66 per share.\n<\/p>\n

\nAs of July 31, 2021, the company\u2019s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 474 percent, and its coverage ratio for preferred shares was 392 percent. For more information on the company\u2019s coverage ratios, please refer to the leverage summary web page at https:\/\/cef.tortoiseecofin.com<\/a>.\n<\/p>\n

\nSet forth below is a summary of the company\u2019s unaudited balance sheet at July 31, 2021.\n<\/p>\n

Unaudited balance sheet<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

(in Millions)<\/span><\/p>\n<\/td>\n

\n\n\n

Per Share<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\nInvestments\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n281.5\n<\/p>\n<\/td>\n

\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n49.88\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nCash and Cash Equivalents\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.4\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.07\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther Assets\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2.7\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.48\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal Assets\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n284.6\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n50.43\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nShort-Term Borrowings\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n51.4\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n9.10\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nSenior Notes\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n7.2\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1.27\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nPreferred Stock\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n12.2\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2.17\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal Leverage\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n70.8\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n12.54\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther Liability\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.9\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.16\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nCurrent Tax Liability\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n6.0\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1.07\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet Assets\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n206.9\n<\/p>\n<\/td>\n

\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n36.66\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

\n5.64 million common shares currently outstanding.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP)<\/b> today announced that as of July 31, 2021, the company\u2019s unaudited total assets were approximately $85.8 million and its unaudited net asset value was $64.7 million, or $28.71 per share.\n<\/p>\n

\nAs of July 31, 2021, the company\u2019s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 590 percent, and its coverage ratio for preferred shares was 415 percent. For more information on the company\u2019s coverage ratios, please refer to the leverage summary web page at https:\/\/cef.tortoiseecofin.com<\/a>.\n<\/p>\n

\nSet forth below is a summary of the company\u2019s unaudited balance sheet at July 31, 2021.\n<\/p>\n

Unaudited balance sheet<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

(in Millions)<\/span><\/p>\n<\/td>\n

\n\n\n

Per Share<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\nInvestments\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n83.2\n<\/p>\n<\/td>\n

\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n36.91\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nCash and Cash Equivalents\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1.8\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.82\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther Assets\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.8\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.34\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal Assets\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n85.8\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n38.07\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nSenior Notes\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n14.5\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n6.41\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nPreferred Stock\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n6.1\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2.71\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal Leverage\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n20.6\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n9.12\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther Liabilities\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.5\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.24\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet Assets\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n64.7\n<\/p>\n<\/td>\n

\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n28.71\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

\n2.25 million common shares currently outstanding.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nTTP has completed approximately $4.4 million of share repurchases under the publicly announced repurchase plan allowing up to $5.0 million through August 31, 2021. Under the program, TTP has repurchased 248,567 shares of its common stock at an average price of $17.492 and an average discount to NAV of 21.1%.\n<\/p>\n

Tortoise Energy Independence Fund, Inc.<\/b>(NYSE: NDP)<\/b> today announced that as of July 31, 2021, the company\u2019s unaudited total assets were approximately $44.6 million and its unaudited net asset value was $41.4 million, or $22.45 per share.\n<\/p>\n

\nAs of July 31, 2021, the company\u2019s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 1,529 percent. For more information on the company\u2019s coverage ratios, please refer to the leverage summary web page at https:\/\/cef.tortoiseecofin.com<\/a>.\n<\/p>\n

\nSet forth below is a summary of the company\u2019s unaudited balance sheet at July 31, 2021.\n<\/p>\n

Unaudited balance sheet<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

(in Millions)<\/span><\/p>\n<\/td>\n

\n\n\n

Per Share<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\nInvestments\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n44.1\n<\/p>\n<\/td>\n

\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n23.87\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nCash and Cash Equivalents\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.4\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.20\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther Assets\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.1\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.08\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal Assets\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n44.6\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n24.15\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

\nCredit Facility Borrowings\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2.9\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1.57\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther Liabilities\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.3\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.13\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet Assets\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n41.4\n<\/p>\n<\/td>\n

\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n22.45\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

\n1.85 million common shares currently outstanding.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ)<\/b> today announced that as of July 31, 2021, the company\u2019s unaudited total assets were approximately $126.7 million and its unaudited net asset value was $102.2 million, or $15.59 per share.\n<\/p>\n

\nAs of July 31, 2021, the company\u2019s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 526 percent. For more information on the company\u2019s coverage ratios, please refer to the leverage summary web page at https:\/\/cef.tortoiseecofin.com<\/a>.\n<\/p>\n

\nSet forth below is a summary of the company\u2019s unaudited balance sheet at July 31, 2021.\n<\/p>\n

Unaudited balance sheet<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

(in Millions)<\/span><\/p>\n<\/td>\n

\n\n\n

Per Share<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\nInvestments\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n124.9\n<\/p>\n<\/td>\n

\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n19.04\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nCash and Cash Equivalents\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.6\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.09\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther Assets\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1.2\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.18\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal Assets\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n126.7\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n19.31\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nCredit Facility Borrowings\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n24.0\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n3.66\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther Liabilities\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.5\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.06\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet Assets\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n102.2\n<\/p>\n<\/td>\n

\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n15.59\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

\n6.56 million common shares currently outstanding.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nTPZ has completed approximately $4.6 million of share repurchases under the publicly announced repurchase plan allowing up to $5.0 million through August 31, 2021. Under the program, TPZ has repurchased 393,175 shares of its common stock at an average price of $11.658 and an average discount to NAV of 19.0%.\n<\/p>\n

Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF)<\/b> today announced that as of July 31, 2021, the company\u2019s unaudited total assets were approximately $260.2 million and its unaudited net asset value was $230.1 million, or $17.05 per share.\n<\/p>\n

\nAs of July 31, 2021, the company\u2019s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 992 percent. For more information on the company\u2019s coverage ratios, please refer to the leverage summary web page at https:\/\/cef.tortoiseecofin.com<\/a>.\n<\/p>\n

\nSet forth below is a summary of the company\u2019s unaudited balance sheet at July 31, 2021.\n<\/p>\n

Unaudited balance sheet<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

(in Millions)<\/span><\/p>\n<\/td>\n

\n\n\n

Per Share<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\nInvestments\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n256.3\n<\/p>\n<\/td>\n

\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n18.99\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nCash and Cash Equivalents\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.7\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.05\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther Assets\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n3.2\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.24\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal Assets\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n260.2\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n19.28\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nCredit Facility Borrowings\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n25.8\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1.91\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nPayable for Investments Purchased\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n3.0\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.23\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther Liabilities\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1.3\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.09\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet Assets\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n230.1\n<\/p>\n<\/td>\n

\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n17.05\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n13.49 million common shares outstanding.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nThe top 10 holdings for TYG, NTG, TTP, NDP, TPZ and TEAF as of the most recent month-end can be found on each fund\u2019s portfolio web page at https:\/\/cef.tortoiseecofin.com<\/a>.\n<\/p>\n

About TortoiseEcofin<\/b><\/p>\n

\nTortoiseEcofin focuses on essential assets \u2013 those assets and services that are indispensable to the economy and society. We strive to make a positive impact on clients and communities by investing in energy infrastructure and the transition to cleaner energy and by providing capital for social impact projects focused on education and senior living. TortoiseEcofin brings together strong legacies from Tortoise, with expertise investing across the energy value chain for more than 20 years, and from Ecofin, which unites ecology and finance and has roots back to the early 1990s. For additional information, please visit www.TortoiseEcofin.com<\/a>.\n<\/p>\n

\nTortoise Capital Advisors, L.L.C. (also dba TCA Advisors) (\u201cTCA\u201d) is the Adviser to Tortoise Energy Infrastructure Corp., Tortoise Midstream Energy Fund, Inc., Tortoise Pipeline & Energy Fund, Inc., Tortoise Energy Independence Fund, Inc., Tortoise Power and Energy Infrastructure Fund, Inc. and Ecofin Sustainable and Social Impact Term Fund. Ecofin Advisors Limited is a sub-adviser to Ecofin Sustainable and Social Impact Term Fund.\n<\/p>\n

\nFor additional information on these funds, please visit cef.tortoiseecofin.com<\/a>.\n<\/p>\n

Safe harbor statement <\/b><\/p>\n

\nThis 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.\n<\/p>\n

Cautionary Statement Regarding Forward-Looking Statements<\/b><\/p>\n

\nThis press release contains certain statements that may include \u201cforward-looking statements\u201d 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 funds and TCA 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 fund\u2019s 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 funds and TCA do not assume a duty to update this forward-looking statement.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210802005834\/en\/<\/a><\/span><\/p>\n

\nMaggie Zastrow
\n
(913) 981-1020
\n
info@tortoiseecofin.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Kansas<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Other Energy Utilities Oil\/Gas Alternative Energy Energy Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

TortoiseEcofin Announces Release of 2021 Semi-Annual Report and Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of July 31, 2021 for TYG, NTG, TTP, NDP, TPZ and TEAF Tortoise Energy Infrastructure Corp. (NYSE: TYG) Tortoise Midstream Energy Fund, Inc. (NYSE: NTG) Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) Tortoise Energy Independence Fund, Inc. (NYSE: NDP) Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF) OVERLAND PARK, Kan.–(BUSINESS WIRE)– The combined 2021 Semi-Annual stockholders\u2019 report for TYG, NTG, TTP, NDP, TPZ and TEAF has been released. This report is available online at cef.tortoiseecofin.com. Please call (866) 362-9331 or email info@tortoiseecofin.com to request hard copies of this report free … <\/p>\n

Continue reading “TortoiseEcofin Announces Release of 2021 Semi-Annual Report and Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of July 31, 2021 for TYG, NTG, TTP, NDP, TPZ and TEAF”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-521760","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nTortoiseEcofin Announces Release of 2021 Semi-Annual Report and Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of July 31, 2021 for TYG, NTG, TTP, NDP, TPZ and TEAF - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/tortoiseecofin-announces-release-of-2021-semi-annual-report-and-provides-unaudited-balance-sheet-information-and-asset-coverage-ratio-updates-as-of-july-31-2021-for-tyg-ntg-ttp-ndp-tpz-and-teaf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TortoiseEcofin Announces Release of 2021 Semi-Annual Report and Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of July 31, 2021 for TYG, NTG, TTP, NDP, TPZ and TEAF - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TortoiseEcofin Announces Release of 2021 Semi-Annual Report and Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of July 31, 2021 for TYG, NTG, TTP, NDP, TPZ and TEAF Tortoise Energy Infrastructure Corp. (NYSE: TYG) Tortoise Midstream Energy Fund, Inc. (NYSE: NTG) Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) Tortoise Energy Independence Fund, Inc. (NYSE: NDP) Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF) OVERLAND PARK, Kan.–(BUSINESS WIRE)– The combined 2021 Semi-Annual stockholders\u2019 report for TYG, NTG, TTP, NDP, TPZ and TEAF has been released. This report is available online at cef.tortoiseecofin.com. 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(NYSE: TYG) Tortoise Midstream Energy Fund, Inc. (NYSE: NTG) Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) Tortoise Energy Independence Fund, Inc. (NYSE: NDP) Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF) OVERLAND PARK, Kan.–(BUSINESS WIRE)– The combined 2021 Semi-Annual stockholders\u2019 report for TYG, NTG, TTP, NDP, TPZ and TEAF has been released. This report is available online at cef.tortoiseecofin.com. 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