Tortoise Pipeline: asset update

Tortoise Pipeline & Energy Fund, Inc. has announced that by the end of December 2015, the company’s unaudited total assets were approximately US$241.5 million and its unaudited net asset value was US$166.7 million, or US$16.64 per share.

As of 31 December 2015, 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 418%, and its coverage ratio for preferred shares was 327%.

Additional information

For more information on calculation of coverage ratios, please refer to the company’s most recent applicable prospectus.

Also, Tortoise will host its first quarter closed-end fund call on 28 January 2016 at 3 pm central time to discuss the energy sector and provide an update on its closed-end fund investment strategies.

Edited from source by Stephanie Roker

Read the article online at: https://www.worldpipelines.com/business-news/05012016/tortoise-pipeline-asset-update/