Tortoise Energy Capital Corp. Provides Notice of its Intention to Redeem a Portion of its Series I & Series II Auction Rate P...
30 6월 2009 - 7:29AM
Business Wire
Tortoise Energy Capital Corp. (NYSE: TYY) today announced that
it intends to redeem $30 million of the remaining $95 million of
its Auction Rate Preferred Shares. It intends to redeem $20 million
of its $60 million of Series I on July 14, 2009 and $10 million of
its $35 million of Series II on July 16, 2009. TYY will utilize
existing cash and its bank credit facility to complete the
redemptions.
�We continue to redeem our Auction Rate Preferred Shares in
order to provide liquidity for our preferred stockholders and
improve TYY�s total leverage coverage ratios pursuant to Rating
Agency guidelines and the 1940 Act,� said TYY�s Chief Financial
Officer, Terry Matlack.
About Tortoise Energy Capital Corp.
Tortoise Energy Capital Corp. provides financing for master
limited partnerships (MLPs) in the energy infrastructure sector,
focusing on crude oil and refined petroleum products MLPs and
natural gas and natural gas liquids pipelines MLPs. Tortoise Energy
Capital Corp. seeks 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 May 31, 2009, the adviser had
approximately $2.0 billion of 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.
Forward-Looking Statement
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.
Tortoise (NYSE:TYY)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Tortoise (NYSE:TYY)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024