Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information & Announces its Net Asset Value & Asset Co...
November 01 2016 - 07:25PM
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 October 31, 2016.
As of October 31, 2016, the Company’s net assets were $2.1
billion, and its net asset value per share was $18.42. As of
October 31, 2016, the Company’s asset coverage ratio under the 1940
Act with respect to senior securities representing indebtedness was
391% and the Company’s asset coverage ratio under the 1940 Act with
respect to total leverage (debt and preferred stock) was 275%.
Kayne Anderson MLP Investment
Company
Statement of Assets and Liabilities October 31, 2016
(Unaudited) (in millions) Per Share
Investments $ 3,798.0 $ 33.41 Cash and cash equivalents 2.2 0.02
Deposits 0.3 - Accrued income 31.0 0.27 Receivable for securities
sold 1.0 0.01 Income tax receivable 18.4 0.16 Other assets
8.4 0.07 Total assets 3,859.3 33.94 Term loan 75.0
0.66 Senior notes 767.0 6.75 Preferred stock 354.0
3.11 Total leverage 1,196.0 10.52 Payable for
securities purchased 5.4 0.05 Other liabilities 22.0 0.19 Deferred
income tax liability 541.7 4.76 Total liabilities
569.1 5.00 Net assets $ 2,094.2 $ 18.42 The Company
had 113,687,509 common shares outstanding as of October 31, 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 October 31, 2016
were:
Units / Shares(in
thousands)
Amount($
millions)
Percent
ofLong-TermInvestments
1. Enterprise Products Partners L.P. (Midstream MLP) 18,731 $ 472.8
12.4% 2. Williams Partners L.P. (Midstream MLP) 10,728 384.3 10.1%
3. Energy Transfer Partners, L.P. (Midstream MLP) 10,600 370.8 9.8%
4. ONEOK Partners, L.P. (Midstream MLP) 6,957 276.5 7.3% 5. Plains
All American Pipeline, L.P. (Midstream MLP) 8,757 265.9 7.0% 6.
MPLX LP (Midstream MLP)* 6,833 245.3 6.5% 7. Western Gas Partners,
LP (Midstream MLP)** 3,841 212.2 5.6% 8. DCP Midstream Partners, LP
(Midstream MLP) 6,097 203.3 5.4% 9. Buckeye Partners, L.P.
(Midstream MLP) 2,748 177.4 4.7% 10. Magellan Midstream Partners,
L.P. (Midstream MLP) 2,304 154.9 4.1%
_____________
* Includes 4,578 common units ($155.7 million) and 2,255
preferred units ($89.6 million).
** Includes 3,707 common units ($204.4 million) and 134
preferred units ($7.8 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/20161101006978/en/
KA Fund Advisors, LLCMonique Vo,
877-657-3863http://www.kaynefunds.com/
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