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.
Tortoise Sustainable and Social Impact Term Fund was a NYSE-listed closed-end fund advised by Tortoise Capital Advisors, L.L.C. News for TEAF centers on its completed merger into Tortoise Energy Infrastructure Corp. (TYG), with TYG as the continuing fund and TEAF shares converted into newly issued TYG shares.
Earlier TEAF updates covered monthly closed-end fund distributions, distribution source estimates, unaudited balance sheet and net asset value information, 1940 Act asset coverage ratios for leverage, top holdings references, and updates on the fund's direct investments.
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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.
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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.
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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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