Tortoise Energy Infrastructure Corp. filed its intention to redeem all 5 million Series C mandatory redeemable preferred (MRP) shares with the Securities and Exchange Commission on Dec. 9, the company said Dec. 21.
The redemption represents a $50 million liquidation preference, and the redemption date is Jan. 8, 2016.
The total redemption price is about $50.2 million and the redemption price per share is about $10.04, Tortoise said. The credit facilities funded the total price with Computershare, the paying agent and transfer agent, on Dec. 8.
Tortoise Energy Infrastructure Corp. is based in Leawood, Kan.