Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information & Announces its Net Asset Value & Asset Co...
06 September 2017 - 11:29PM
Business Wire
Kayne Anderson MLP Investment Company (the “Company”) (NYSE:
KYN) today provided a summary unaudited statement of assets and
liabilities and announced its net asset value and asset coverage
ratios under the Investment Company Act of 1940 (the “1940 Act”) as
of August 31, 2017.
As of August 31, 2017, the Company’s net assets were $2.0
billion, and its net asset value per share was $17.26. As of August
31, 2017, the Company’s asset coverage ratio under the 1940 Act
with respect to senior securities representing indebtedness was
404% and the Company’s asset coverage ratio under the 1940 Act with
respect to total leverage (debt and preferred stock) was 290%.
Kayne Anderson MLP Investment Company Statement of
Assets and Liabilities August 31, 2017
(Unaudited) (in millions) Per Share
Investments $ 3,547.4 $ 30.96 Cash and cash equivalents 39.7 0.35
Deposits 0.3 0.00 Accrued income 1.1 0.01 Receivable for securities
sold 5.3 0.05 Other assets 1.6 0.01
Total assets 3,595.4 31.38 Notes 747.0 6.52 Unamortized
notes issuance costs (3.0 ) (0.03 ) Preferred stock 292.0 2.55
Unamortized preferred stock issuance costs (2.4 )
(0.02 ) Total leverage 1,033.6 9.02
Payable for securities purchased 2.7 0.02 Other liabilities
21.1 0.19 Deferred tax liability 560.8 4.89
Total liabilities 584.6 5.10 Net assets $ 1,977.2
$ 17.26 The Company had 114,575,715 common
shares outstanding as of August 31, 2017.
Long-term investments were comprised of Midstream MLP (86%),
Midstream Company (12%) and Shipping MLP (2%).
The Company’s ten largest holdings by issuer at August 31, 2017
were:
Units / Shares(in
thousands)
Amount($ millions)
Percent
ofLong-TermInvestments
1. Enterprise Products Partners L.P. (Midstream MLP) 19,680 $513.1
14.5% 2. Energy Transfer Partners, L.P. (Midstream MLP) 19,879
377.9 10.7% 3. Williams Partners L.P. (Midstream MLP) 8,421 331.8
9.4% 4. MPLX LP (Midstream MLP)* 7,009 249.8 7.0% 5. ONEOK, Inc.
(Midstream Company) 4,433 240.1 6.8% 6. Western Gas Partners, LP
(Midstream MLP) 3,841 196.2 5.5% 7. Plains All American Pipeline,
L.P. (Midstream MLP) 8,962 194.1 5.5% 8. Buckeye Partners, L.P.
(Midstream MLP) 2,875 164.4 4.6% 9. DCP Midstream, LP (Midstream
MLP) 5,010 160.9 4.5% 10. Targa Resources Corp. (Midstream Company)
3,137 139.8 3.9% _____________ * Includes 4,753 common units
($163.1 million) and 2,256 preferred units ($86.7 million).
Kayne Anderson MLP Investment Company is a non-diversified,
closed-end management investment company registered under the
Investment Company Act of 1940, whose common stock is traded on the
NYSE. The Company's investment objective is to obtain a high
after-tax total return by investing at least 85% of its total
assets in energy-related master limited partnerships and their
affiliates (collectively, “MLPs”), and in other companies that, as
their principal business, operate assets used in the gathering,
transporting, processing, storing, refining, distributing, mining
or marketing natural gas, natural gas liquids (including propane),
crude oil, refined petroleum products or coal.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press
release contains "forward-looking statements" as defined under the
U.S. federal securities laws. Generally, the words "believe,"
"expect," "intend," "estimate," "anticipate," "project," "will" and
similar expressions identify forward-looking statements, which
generally are not historical in nature. Forward-looking statements
are subject to certain risks and uncertainties that could cause
actual results to differ from the Fund’s historical experience and
its present expectations or projections indicated in any
forward-looking statements. These risks include, but are not
limited to, changes in economic and political conditions;
regulatory and legal changes; MLP industry risk; leverage risk;
valuation risk; interest rate risk; tax risk; and other risks
discussed in the Fund’s filings with the SEC. You should not place
undue reliance on forward-looking statements, which speak only as
of the date they are made. The Fund undertakes no obligation to
publicly update or revise any forward-looking statements made
herein. There is no assurance that the Fund’s investment objective
will be attained.
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version on businesswire.com: http://www.businesswire.com/news/home/20170906006123/en/
KA Fund Advisors, LLCMonique Vo,
877-657-3863http://www.kaynefunds.com/
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