TEAF Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of December 30, 2022

Rhea-AI Summary

Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) released its preliminary unaudited balance sheet as of December 30, 2022, showing total assets of approximately $246.4 million and a net asset value of $215.7 million, equivalent to $15.99 per share. The asset coverage ratio regarding senior securities was notably high at 831%. The fund reported 13.49 million common shares outstanding. Updates on direct investments and quarterly commentary on fund performance are available on the company website.

Positive

• Total assets increased to $246.4 million.
• Net asset value stands at $215.7 million, or $15.99 per share.
• High asset coverage ratio of 831% indicates strong financial stability.

Negative

• None.

OVERLAND PARK, KS / ACCESSWIRE / January 3, 2023 / The following preliminary unaudited balance sheet information and asset coverage ratio update is provided for Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF).

As of December 30, 2022, the company's unaudited total assets were approximately $246.4 million and its unaudited net asset value was $215.7 million, or $15.99 per share.

As of December 30, 2022, the company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 831%. For more information on the company's coverage ratios, please refer to the leverage summary web page at https://cef.tortoiseecofin.com.

Set forth below is a summary of the company's unaudited balance sheet at December 30, 2022.

Unaudited balance sheet

		(in Millions)			Per Share
Investments		$	243.4		$	18.04
Cash and Cash Equivalents			0.6			0.05
Other Assets			2.4			0.18
Total Assets			246.4			18.26
Credit Facility Borrowings			29.5			2.19
Other Liabilities			1.2			0.09
Net Assets		$	215.7		$	15.99

13.49 million common shares outstanding.

The top 10 holdings for TEAF as of the most recent month-end can be found on the fund's portfolio web page at cef.ecofininvest.com/funds/teaf.

TEAF also provides update on direct investments, impact statistics and publishes quarterly commentary

TEAF provides an update on the fund's direct investments, portfolio asset allocation and structure types on the company website at https://cef.ecofininvest.com/funds/teaf/#portfolio. Details on each private deal that has taken place over the prior month will be published on the website here https://cef.ecofininvest.com/funds/teaf/#deal-summaries-list. The list includes all deals completed since the fund's inception. Updates will continue to be posted on a monthly basis if there was a deal during the prior month until the fund reaches its target of 60% direct investments.

In addition, TEAF's commentary has been published for the third calendar quarter of 2022. The commentary piece highlights fund performance of the public and direct investments in the essential asset sectors in which the fund invests. A copy of the commentary piece is available on the company website https://cef.ecofininvest.com/funds/teaf/#literature.

TCA Advisors is the adviser to Ecofin Sustainable and Social Impact Term Fund and Ecofin Advisors Limited is the fund's sub-adviser.

Safe harbor statement

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the fund and TCA believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund's reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the fund and TCA do not assume a duty to update this forward-looking statement.

Contact Information

For additional information on this fund, please visit cef.ecofininvest.com or contact Jen Ashlock at (913) 981-1020 or info@tortoiseecofin.com.

SOURCE: Ecofin

View source version on accesswire.com:
https://www.accesswire.com/733926/TEAF-Provides-Unaudited-Balance-Sheet-Information-and-Asset-Coverage-Ratio-Updates-as-of-December-30-2022

FAQ

What is the asset coverage ratio for TEAF as of December 30, 2022?

The asset coverage ratio for TEAF was 831% as of December 30, 2022.

What is the net asset value per share for TEAF?

The net asset value per share for TEAF is $15.99 as of December 30, 2022.

What are the total assets reported by TEAF?

TEAF reported total assets of approximately $246.4 million as of December 30, 2022.

How many common shares are outstanding for TEAF?

TEAF has 13.49 million common shares outstanding.

Where can I find updates on TEAF's investments and performance?

Updates on TEAF's investments and performance can be found on the company's website.