Kayne Anderson MLP Investment Company Executes Definitive Agreement for Private Placement of $50 Million of Mandatory Redeema...
September 07 2016 - 6:50PM
Business Wire
Kayne Anderson MLP Investment Company (the “Company”) (NYSE:KYN)
announced today that it executed a definitive agreement for the
private placement of $50 million of Series J Mandatory
Redeemable Preferred Shares (the “Series J MRP Shares”) with an
institutional investor. The Series J MRP Shares will mature on
November 9, 2021 and pay quarterly cash dividends at a rate of
3.36% per annum. Funding will take place on November 9, 2016. Net
proceeds from the offering will be used to refinance existing
leverage and for general corporate purposes.
The Series J MRP Shares will not be registered under the
Securities Act of 1933, and may not be offered or sold in the
United States absent registration or an applicable exemption from
registration.
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 Company'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 Company'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 Company undertakes no
obligation to publicly update or revise any forward-looking
statements made herein. There is no assurance that the Company's
investment objectives will be attained.
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version on businesswire.com: http://www.businesswire.com/news/home/20160907006893/en/
KA Fund Advisors, LLCMonique Vo,
877-657-3863http://www.kaynefunds.com
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