TEAF Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of November 30, 2021

Rhea-AI Summary

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.

Positive

• Unaudited total assets of $258.0 million.
• Net asset value of $232.6 million or $17.24 per share.
• High asset coverage ratio of 1,177% for senior securities.
• Total investments valued at $252.3 million.
• 13.49 million common shares outstanding.

Negative

• None.

OVERLAND PARK, Kan.--(BUSINESS WIRE)-- The following 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, 2021, the company’s unaudited total assets were approximately $258.0 million and its unaudited net asset value was $232.6 million, or $17.24 per share.

As of November 30, 2021, the company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 1,177%. 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 preliminary balance sheet at November 30, 2021.

Unaudited preliminary balance sheet

		(in Millions)		Per Share
Investments		$ 252.3		$ 18.70
Cash and Cash Equivalents		0.5		0.03
Investments Receivable		2.7		0.20
Other Assets		2.5		0.19
Total Assets		258.0		19.12
Credit Facility Borrowings		21.6		1.60
Investments Payable		2.7		0.20
Other Liabilities		1.1		0.08
Net Assets		$232.6		$17.24
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.

For additional information on this fund, please visit cef.ecofininvest.com.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211201006268/en/

For more information contact:

Maggie Zastrow, (913) 981-1020

info@tortoiseecofin.com

Source: Ecofin Sustainable and Social Impact Term Fund

FAQ

What are the total assets of Ecofin Sustainable and Social Impact Term Fund (TEAF) as of November 30, 2021?

The total assets of Ecofin Sustainable and Social Impact Term Fund (TEAF) are approximately $258.0 million as of November 30, 2021.

What is the net asset value per share for TEAF?

The net asset value per share for Ecofin Sustainable and Social Impact Term Fund (TEAF) is $17.24 as of November 30, 2021.

What is the asset coverage ratio for TEAF?

The asset coverage ratio for Ecofin Sustainable and Social Impact Term Fund (TEAF) is 1,177% as of November 30, 2021.

How many common shares are outstanding for TEAF?

Ecofin Sustainable and Social Impact Term Fund (TEAF) has 13.49 million common shares outstanding.