Tortoise Capital Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of May 30, 2025, for TYG and TEAF

Tortoise Capital announced unaudited balance sheet information for closed-end funds TYG and TEAF as of May 30, 2025; TYG reported total assets of approximately $969.2 million and a net asset value of $772.2 million, or $44.80 per share, with asset coverage ratios of 679% for senior securities and 515% for preferred shares, while TEAF reported total assets of $209.2 million and a net asset value of $177.0 million, or $13.12 per share, with an asset coverage ratio of 664% for senior securities.

Analysis

Tortoise Capital released unaudited financial updates for its closed-end funds, Tortoise Energy Infrastructure Corp. (TYG) and Tortoise Sustainable and Social Impact Term Fund (TEAF), as of May 30, 2025. TYG reported total assets of approximately $969.2 million and a net asset value (NAV) of $772.2 million, translating to $44.80 per share based on 17.24 million common shares outstanding. Significantly, TYG maintained robust asset coverage ratios, with 679% for senior securities representing indebtedness and 515% for preferred shares, comfortably exceeding regulatory requirements under the 1940 Act and indicating a strong capacity to service its leverage, which totaled $186.0 million. TEAF reported total assets of $209.2 million and an NAV of $177.0 million, or $13.12 per share, with 13.49 million common shares outstanding. TEAF also demonstrated healthy financial footing, with an asset coverage ratio of 664% for its senior securities, which consist of $31.4 million in credit facility borrowings. The provided data, although preliminary and unaudited, reflects stable fundamental metrics for both funds, consistent with the mildly positive sentiment signal from market data. Tortoise Capital, managing approximately $8.8 billion in assets as of April 30, 2025, continues to provide transparency, including specific details on TEAF's direct investments available on its website, which is pertinent for evaluating its sustainable and social impact mandate.

Key Decisions for Investors

• Investors should compare the reported NAVs of $44.80 for TYG and $13.12 for TEAF against their current market prices to assess potential trading opportunities arising from discounts or premiums.
• The strong asset coverage ratios for both TYG (679% for debt, 515% for preferred) and TEAF (664% for debt) suggest a reduced risk profile concerning their leverage obligations and may support the sustainability of their distribution policies.
• For investors in TEAF, or those considering it, ongoing review of the fund’s direct investment updates on the Tortoise Capital website is recommended to monitor portfolio composition and the execution of its specific impact objectives.
• Given that this announcement represents a routine financial disclosure with a neutral tone and low market impact score, existing investors may consider maintaining their positions if aligned with long-term strategies, while prospective investors could view these funds as having stable, albeit unaudited, financial health within their respective energy infrastructure and sustainable investment niches.