This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Tortoise Energy Capital Corp. Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Update as of August 31, 2009 2009-09-01 18:27 ET - News Release
LEAWOOD, Kan. -- (Business Wire)
Tortoise Energy Capital Corp. (NYSE: TYY) today announced that as of
August 31, 2009, the company’s unaudited total assets were approximately
$501.6 million and its unaudited net asset value was $316.8 million, or
$18.01 per share.
As of August 31, 2009, the company was in compliance with its asset
coverage ratios under the Investment Company Act of 1940 (the 1940 Act)
and basic maintenance covenants. The company’s asset coverage ratio
under the 1940 Act with respect to senior securities representing
indebtedness was 492 percent, and its coverage ratio for preferred
shares was 295 percent. (For more information on calculation of coverage
ratios, please refer to our most recent applicable prospectus.)
The company has issued 62,758 shares of common stock under its
at-the-market equity offering program for gross proceeds of
approximately $1.3 million since the commencement of the offering in
August 2009.
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