Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information & Announces its Net Asset Value & Asset Co...
October 03 2016 - 8:15PM
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 September 30, 2016.
As of September 30, 2016, the Company’s net assets were $2.3
billion, and its net asset value per share was $19.86. As of
September 30, 2016, the Company’s asset coverage ratio under the
1940 Act with respect to senior securities representing
indebtedness was 446% and the Company’s asset coverage ratio under
the 1940 Act with respect to total leverage (debt and preferred
stock) was 292%.
Kayne Anderson MLP Investment
Company
Statement of Assets and Liabilities September 30,
2016 (Unaudited) (in millions) Per
Share Investments $ 3,949.0 $ 34.84 Cash and cash equivalents 61.7
0.54 Deposits 0.3 - Accrued income 0.7 0.01 Receivable for
securities sold 9.1 0.08 Income tax receivable 19.5 0.17 Other
assets 8.4 0.07 Total assets 4,048.7 35.71
Senior notes 767.0 6.77 Preferred stock 404.0 3.56
Total leverage 1,171.0 10.33 Payable for
securities purchased 10.5 0.09 Other liabilities 15.0 0.13 Deferred
income tax liability 600.7 5.30 Total liabilities
626.2 5.52 Net assets $ 2,251.5 $ 19.86 The Company
had 113,363,530 common shares outstanding as of September 30, 2016.
Long-term investments were comprised of Midstream MLP (92%),
Midstream Company (4%), General Partner MLP (2%) and Shipping MLP
(2%).
The Company’s ten largest holdings by issuer at September 30,
2016 were:
Units / Shares
(in thousands)
Amount
($ millions)
Percent
ofLong-TermInvestments
1. Enterprise Products Partners L.P. (Midstream MLP) 18,731 $517.5
13.1% 2. Williams Partners L.P. (Midstream MLP) 10,728 399.0 10.1%
3. Energy Transfer Partners, L.P. (Midstream MLP) 10,600 392.2 9.9%
4. ONEOK Partners, L.P. (Midstream MLP) 6,947 277.5 7.0% 5. Plains
All American Pipeline, L.P. (Midstream MLP) 8,757 275.1 7.0% 6.
MPLX LP (Midstream MLP)* 6,833 244.8 6.2% 7. DCP Midstream
Partners, LP (Midstream MLP) 6,157 217.5 5.5% 8. Western Gas
Partners, LP (Midstream MLP)** 3,841 211.8 5.4% 9. Buckeye
Partners, L.P. (Midstream MLP) 2,498 178.9 4.5% 10. Magellan
Midstream Partners, L.P. (Midstream MLP) 2,304 163.0 4.1%
* Includes 4,578 common units ($155.0 million)
and 2,255 preferred units ($89.8 million). ** Includes 3,707
common units ($204.1 million) and 134 preferred units ($7.7
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/20161003006615/en/
KA Fund Advisors, LLCMonique Vo,
877-657-3863http://www.kaynefunds.com/
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