Welcome to our dedicated page for Tortoise Sustainable and Social Impact news (Ticker: TEAF), a resource for investors and traders seeking the latest updates and insights on Tortoise Sustainable and Social Impact stock.
This page provides a historical news archive for Tortoise Sustainable and Social Impact Term Fund (NYSE: TEAF), a closed-end fund that was advised by Tortoise Capital Advisors, L.L.C. and later merged into Tortoise Energy Infrastructure Corp. (NYSE: TYG). The coverage reflects TEAF’s role within the Tortoise closed-end fund platform and documents the key steps that led to its combination with TYG.
News items for TEAF include regular announcements of closed-end fund distributions issued by Tortoise Capital, where TEAF and TYG distribution amounts and payment dates were disclosed together. These releases also described the estimated tax character of distributions for book purposes, such as the portion treated as ordinary income and the portion treated as return of capital.
Another major category of news consists of periodic unaudited balance sheet and asset coverage ratio updates for TEAF and TYG. These updates summarized total assets, net assets, net asset value per share, margin loan facility borrowings for TEAF, and asset coverage ratios under the Investment Company Act of 1940 with respect to senior securities representing indebtedness. Company communications also pointed readers to fund web pages for details on top holdings and direct investments.
The archive further captures governance and corporate actions, including the announcement of shareholder approval of the merger of TEAF into TYG and the subsequent completion of that merger with TYG as the continuing fund. Follow-on releases discussed how the combined fund’s scale and distribution policy were affected by the transaction. By reviewing this TEAF news stream, investors can trace the fund’s evolution, its financial reporting practices, and the steps that led to its integration into TYG.
Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF) reported its unaudited balance sheet as of December 31, 2021. Total assets amounted to approximately $260.7 million, with a net asset value of $234.9 million, translating to $17.41 per share. The fund's asset coverage ratio for senior securities was a robust 1,059%. The investments totaled $257.5 million and cash and equivalents stood at $0.6 million. The fund has 13.49 million common shares outstanding.
The Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF) provided an update on its unaudited financials as of November 30, 2021. The fund reported total assets of approximately $258.0 million and a net asset value of $232.6 million, translating to $17.24 per share. The asset coverage ratio for senior securities was notably high at 1,177%. The fund holds 13.49 million common shares outstanding and a diverse investment portfolio with total investments of $252.3 million.
The Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF) announced strong returns from the monetization of private debt investments in July. Notably, the bonds from PureCycle Technologies, a polypropylene recycling facility, were sold at a profit, achieving a 16.0% internal rate of return. MaST Community Charter School III's bonds were called, providing a 10.4% return as the school accessed public markets. The fund realized approximately $12M, reducing private investment allocation from 51% to 47%. TEAF emphasizes ongoing investment in sustainable equities as market valuations present compelling opportunities.
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