Thursday, July 14, 2005 (Overland Park, KS) - Tortoise Energy Infrastructure Corporation (NYSE:TYG) announced today that it has successfully completed an offering of Series II Money Market Cumulative Preferred Shares (Series II MMP Shares) raising a total of $35 million before fees and expenses of the transaction. The Series II MMP Shares are rated 'Aa2' and 'AA' by Moody's Investors Services, Inc. and Fitch Ratings, respectively. Lehman Brothers Inc. acted as book running manager and Stifel, Nicolaus & Company, Incorporated also participated as an underwriter for the offering. Tortoise Series II MMP Shares may only be bought or sold through an auction or in a secondary market maintained by certain broker-dealers. There is no assurance that such market will be maintained.
Following the issuance of the Series II MMP Shares, the total assets of Tortoise Energy Infrastructure Corporation are approximately $745 million. The issuance of the Series II MMP Shares completes the Company's current leverage plans.
About Tortoise Energy
Tortoise Energy Infrastructure Corporation owns a portfolio of investments in the energy infrastructure sector, primarily pipeline and processing Master Limited Partnerships. Tortoise Energy's goal is to provide its stockholders with a high level of total return with an emphasis on current distributions to stockholders.
Tortoise Capital Advisors, LLC serves as the advisor to Tortoise Energy Infrastructure Corporation.
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.
Tortoise Energy Infrastructure Corporation
Investor Relations, 913-981-1020