Tortoise plans to call $30 million total of two series of preferreds

By Jennifer Chiou

New York, June 29 - Tortoise Energy Capital Corp. said it intends to redeem $30 million of the remaining $95 million of its auction-rate preferred shares.

The redemption consists of $20 million of its $60 million of series I on July 14 as well as $10 million of its $35 million of series II on July 16.

The company said it will use existing cash and its bank credit facility to complete the redemptions.

Tortoise Energy Capital provides financing for a portfolio of master limited partnership investments in the energy infrastructure sector and is based in Leawood, Kan.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.