Tortoise Energy Infrastructure Corp. (NYSE: TYG) today announced that
the company has secured an extension to its revolving credit facility.
The amended credit agreement provides for a revolving credit facility of
up to $92.5 million that can be increased to $160 million if certain
conditions are met. The company currently has approximately $50.9
million outstanding under its unsecured credit facility. Outstanding
loan balances will accrue interest daily at a variable per annum rate
equal to the one-month LIBOR on such day plus 0.75 percent. The company
will pay a quarterly non-usage fee equal to a per annum rate of 0.15
percent of the difference between the total credit facility commitment
and the average outstanding loan balance at the end of each day. U.S.
Bank National Association will serve as a lender and the lending
syndicate agent on behalf of other lenders participating in the credit
facility. The amended credit facility terminates on March 20, 2009.
The company may draw on the facility from time to time to invest in
accordance with its investment policies and for working capital and
other corporate purposes.
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 goal is to
provide its stockholders a high level of total return with an emphasis
on current distributions.
About Tortoise Capital Advisors
Tortoise Capital Advisors, LLC is a pioneer in capital markets for
master limited partnership (MLP) investment companies and a leader in
closed-end funds and separately managed accounts focused on MLPs in the
energy sector. As of Feb. 29, 2008, the adviser had approximately $2.8
billion of energy investment assets under management. For more
information, visit our Web site at 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.
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