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

Rhea-AI Summary

Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) released preliminary unaudited balance sheet information as of November 30, 2022. The total assets were approximately $251.8 million, with a net asset value of $221.5 million or $16.42 per share. The fund's asset coverage ratio was an impressive 850% concerning senior securities representing indebtedness. The fund has 13.49 million common shares outstanding, with significant investments listed, the largest being $248.6 million in investments.

Positive

• Asset coverage ratio of 850% indicates strong financial health.
• Total assets of $251.8 million suggest significant growth potential.
• Net asset value of $16.42 per share is favorable for investors.

Negative

• None.

OVERLAND PARK, KS / ACCESSWIRE / December 1, 2022 / 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 November 30, 2022, the company's unaudited total assets were approximately $251.8 million and its unaudited net asset value was $221.5 million, or $16.42 per share.

As of November 30, 2022, the company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 850%. 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 preliminary unaudited balance sheet at November 30, 2022.

Unaudited balance sheet

		(in Millions)				Per Share
Investments		$	248.6			$	18.42
Cash and Cash Equivalents			0.4				0.03
Other Assets			2.8				0.21
Total Assets			251.8				18.66
Credit Facility Borrowings			29.5				2.18
Other Liabilities			0.8				0.06
Net Assets		$	221.5			$	16.42

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

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https://www.accesswire.com/729796/TEAF-Provides-Unaudited-Balance-Sheet-Information-and-Asset-Coverage-Ratio-Updates-as-of-November-30-2022

FAQ

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

The asset coverage ratio for TEAF as of November 30, 2022, was 850%.

What are the total assets reported for TEAF?

TEAF reported total assets of approximately $251.8 million as of November 30, 2022.

What is the net asset value per share for TEAF?

The net asset value per share for TEAF is $16.42 as of November 30, 2022.

How many common shares does TEAF have outstanding?

TEAF has 13.49 million common shares outstanding.

What was the total investments figure reported by TEAF?

TEAF reported total investments of $248.6 million.