Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information & Announces its Net Asset Value & Asset Co...
February 02 2017 - 9:20AM
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 January 31, 2017.
As of January 31, 2017, the Company’s net assets were $2.3
billion, and its net asset value per share was $20.32. As of
January 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 300%.
Kayne Anderson MLP Investment
Company
Statement of Assets and Liabilities January 31, 2017
(Unaudited) (in millions) Per Share
Investments $
4,162.6
$
36.51
Cash and cash equivalents 1.4 0.01 Deposits 0.3 - Accrued income
28.0 0.25 Receivable for securities sold 2.4 0.02 Income tax
receivable 7.7 0.07 Other assets 8.2 0.07
Total assets 4,210.6 36.93 Term loan 94.0 0.82 Senior
notes 767.0 6.73 Preferred stock 300.0 2.63
Total leverage 1,161.0 10.18
Payable for securities purchased 10.5 0.09 Other liabilities
15.3 0.13 Deferred income tax liability 707.5
6.21 Total liabilities 733.3 6.43 Net assets $
2,316.3 $ 20.32 The Company had 114,011,997
common shares outstanding as of January 31, 2017.
Long-term investments were comprised of Midstream MLP (94%),
Midstream Company (4%) and Shipping MLP (2%).
The Company’s ten largest holdings by issuer at January 31, 2017
were:
Percent of
Units / Shares
Amount
Long-Term
(in
thousands)
($
millions)
Investments
1. Enterprise Products Partners L.P. (Midstream MLP) 18,731 $530.7
12.7% 2. Williams Partners L.P. (Midstream MLP) 10,902 447.4 10.7%
3. Energy Transfer Partners, L.P. (Midstream MLP)* 10,691 407.9
9.8% 4. ONEOK Partners, L.P. (Midstream MLP)** 6,907 298.0 7.2% 5.
Plains All American Pipeline, L.P. (Midstream MLP) 8,902 279.4 6.7%
6. MPLX LP (Midstream MLP)*** 6,833 265.9 6.4% 7. Western Gas
Partners, LP (Midstream MLP)**** 3,841 235.8 5.7% 8. DCP Midstream
Partners, LP (Midstream MLP) 5,897 229.2 5.5% 9. Buckeye Partners,
L.P. (Midstream MLP) 2,748 191.6 4.6% 10. Magellan Midstream
Partners, L.P. (Midstream MLP) 2,304 184.4 4.4% _____________ * On
November 21, 2016, Energy Transfer Partners, L.P. (“ETP”) and
Sunoco Logistics Partners L.P. (“SXL”) announced an agreement to
combine in a unit-for-unit merger. On a combined basis, ETP and SXL
represent 12.2% of long-term investments as of January 31, 2017.
** On February 1, 2017, ONEOK, Inc. (“OKE”) and ONEOK
Partners, L.P. (“OKS”) announced an agreement to combine in a
stock-for-unit merger. As of January 31, 2017, the Company did not
own any OKE shares. *** Includes 4,578 common units ($173.2
million) and 2,255 preferred units ($92.7 million). ****
Includes 3,707 common units ($227.5 million) and 134 preferred
units ($8.3 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/20170202005726/en/
KA Fund Advisors, LLCMonique Vo,
877-657-3863http://www.kaynefunds.com/
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