Tortoise Energy Capital Corp. Completes $100 Million Senior Notes Private Offering...

Tortoise Energy Capital Corp. Completes $100 Million Senior Notes Private
Offering and Provides Notice of its Intention to Redeem Auction Rate Senior
Notes

OVERLAND PARK, Kan., Dec. 22 /PRNewswire-FirstCall/ -- Tortoise Energy
Capital Corp. (NYSE: TYY) today announced that it has completed a private
offering of $100 million of Series D Senior Notes. The Notes are due in seven
years and bear a fixed interest rate of 6.07 percent. The proceeds will be
used to redeem a portion of its Auction Rate Senior Notes.
"The institutional investors represent a new source of long term financing
for the company," said Tortoise Energy Capital Corp.'s Chief Financial
Officer, Terry Matlack. "By fixing the rate on this portion of our leverage,
we reduce the company's exposure to volatility recently evident in the Auction
Rate market. Leverage will continue to be a key component of our strategy as
long as we believe that it serves the best interests of our stockholders."
Until the auction market stabilizes, the company will continue to post
auction rate updates twice on the 1st and 15th of each month on its Web site
at www.tortoiseadvisors.com.
About Tortoise Energy Capital Corp.
Tortoise Energy Capital Corp. 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 Energy Capital Corp. seeks to provide its
stockholders a high level of total return with an emphasis on current
dividends.
About Tortoise Capital Advisors
Tortoise Capital Advisors, LLC is a pioneer in capital markets for master
limited partnership (MLP) investment companies and a leader in closed-end
funds and separately managed accounts focused on MLPs in the energy sector. As
of Nov. 30, 2007, the adviser had approximately $2.9 billion of assets under
management. For more information, visit our Web site at
www.tortoiseadvisors.com.
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 the 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. Investors should consider the investment objective, risks,
charges and expenses of the fund carefully before investing. For this and
other important information, investors should refer to the closed-end fund
prospectus and read it carefully before investing.
Contact information
Tortoise Capital Advisors, LLC
Pam Kearney, Investor Relations, (866) 362-9331,
pkearney@tortoiseadvisors.com

SOURCE Tortoise Energy Capital Corp.

Pam Kearney, Investor Relations of Tortoise Capital Advisors, LLC,
+1-866-362-9331, pkearney@tortoiseadvisors.com