LEAWOOD, Kan.--(BUSINESS WIRE)--Tortoise Energy Infrastructure Corp. (NYSE: TYG) today announced that it has filed with the U.S. Securities and Exchange Commission (the SEC) a notice of its intention to redeem all 8,000,000 shares of its Series B Mandatory Redeemable Preferred (MRP) Shares (representing an aggregate liquidation preference amount of $80,000,000) with a redemption date of March 14, 2016.
The regular monthly distribution payment of $0.036459 per share will be paid on March 1, 2016 to holders of record on February 12, 2016. On March 14, 2016, holders will receive a redemption payment of $10.115799 per share. The redemption price per share is equal to the liquidation preference per share of $10.00, plus (i) accumulated distributions of $0.015799 and (ii) a redemption premium of $0.10 (1.0% of the liquidation preference per share).
Computershare acts as our transfer agent and paying agent for the redemption. Please send all correspondence related to the redemption to Computershare at the following address: P.O. Box 30170, College Station, TX 77842-3170.
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 Corp.’s objective is to provide its stockholders a high level of total return with an emphasis on current distributions.
About Tortoise Capital Advisors, L.L.C.
Tortoise Capital Advisors, L.L.C. is an investment manager specializing in energy investments. As of Jan. 31, 2016, the adviser had approximately $11.6 billion of assets under management across the energy value chain in listed closed-end funds, mutual funds, private funds and separate accounts. For more information, visit www.tortoiseadvisors.com.
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.
This press release contains certain statements that may include “forward-looking statements” 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 company and Tortoise Capital Advisors 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 company’s 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 company and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.