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Tortoise Energy Infrastructure Corp., 4.375% Mand Redeem Pfd Shares B 12/31/27
Ticker Symbol: TYG-B* CUSIP: 89147L704 Exchange: NYSE
* NOTE: This security is no longer trading as of 3/14/2016
Security has been Called for: Monday, March 14, 2016
February 12, 2016 -- Tortoise Energy Infrastructure Corp. today announced that it has filed with the U.S. Securities and Exchange Commission a notice of its intention to redeem all 8,000,000 shares of its Series B Mandatory Redeemable Preferred (MRP) Shares (representing an aggregate liquidation preference amount of $80,000,000) with a redemption date of March 14, 2016. The regular monthly distribution payment of $0.036459 per share will be paid on March 1, 2016 to holders of record on February 12, 2016. On March 14, 2016, holders will receive a redemption payment of $10.115799 per share. The redemption price per share is equal to the liquidation preference per share of $10.00, plus (i) accumulated distributions of $0.015799 and (ii) a redemption premium of $0.10 (1.0% of the liquidation preference per share). Computershare acts as our transfer agent and paying agent for the redemption. Please send all correspondence related to the redemption to Computershare at the following address: P.O. Box 30170, College Station, TX 77842-3170.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Tortoise Energy Infrastructure Corp., Series B Mandatory Reedeemable Preferred Shares, liquidation preference $10 per share, redeemable at the issuer's option on or after 12/31/2015 at $10.10 per share, which declines to $10 per share by 12/31/2017, plus accrued and unpaid dividends, and must be redeemed on 12/31/2027. These preferred shares can be redeemed prior to 12/31/2015 under certain circumstances. Cumulative distributions of 4.375% per annum ($0.4375 per annum or $0.0364583 per month) will be paid monthly on the first business day of the month to holders of record on the record date that will be the 15th day of the month prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). The dividend rate is subject to adjustment if the rating by Fitch declines below a A rating (see page S-13 of the prospectus for details). Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-30 of the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (TYG)
IPO - 12/4/2012 - 8.00 Million Shares @ $10.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: TROEP Changed: 12/10/2012
Market Value $80.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 11550 Ash Street, Suite 300, Leawood, KS 66211 |
| Main Phone Number |
913-981-1020 |
| Fax Number |
913-981-1021 |
| Investor Relations
Pam Kearney
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866-362-9331
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| Toll Free Phone Number |
866-362-9331 |
| CEO - Terry C. Matlack |
CFO - P. Bradley Adams |
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