Leawood, Kan.-based Tortoise Energy Capital Corp. (NYSE: TYY) plans to redeem its remaining $45 million 5.6% mandatory redeemable preferred shares (MRPS) on Mar. 14, 2011.

The MRPS will be redeemed at $10.10 per share, comprised of the liquidation preference amount of $10 per share and the required redemption premium of $0.10 per share, plus accrued dividends. The company will utilize net proceeds from its recent issuance of $50 million 5% Series B MRPS to facilitate the redemption.

Tortoise Energy Capital provides financing for master limited partnerships (MLPs) in the energy infrastructure sector, focusing on crude oil and refined petroleum products MLPs and natural gas and natural gas liquids pipelines MLPs.

Tortoise Capital Advisors LLC is an investment manager specializing in listed energy infrastructure investments, such as pipeline and power companies. As of Jan. 31, 2011, the adviser had approximately $6.3 billion of assets under management in six NYSE-listed investment companies and private accounts.