Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information & Announces its Net Asset Value & Asset Co...
December 03 2009 - 5:48PM
Business Wire
Kayne Anderson MLP Investment Company (the “Company”) (NYSE:
KYN) today provided a summary unaudited balance sheet and announced
its net asset value and asset coverage ratios under the Investment
Company Act of 1940 (the “1940 Act”) as of November 30, 2009.
As of November 30, 2009, the Company’s net assets were $1billion
and its unaudited net asset value per share was $20.13. As of
November 30, 2009, the Company’s asset coverage ratio under the
1940 Act with respect to senior securities representing
indebtedness was 401% and the Company’s asset coverage ratio under
the 1940 Act with respect to total leverage (debt and preferred
stock) was 333%.
Kayne Anderson MLP Investment Company
Balance Sheet November 30, 2009 (Unaudited)
(in millions) Investments $ 1,589.9 Repurchase agreement and cash
6.3 Deposits 0.6 Accrued income 0.9 Receivable for securities sold
0.8 Other assets 2.9 Total assets 1,601.4
Senior notes
370.0 Preferred stock 75.0 Total leverage 445.0
Payable for securities purchased 5.5 Deferred tax liability
97.7 Other liabilities 14.9 Total liabilities 118.1
Net assets $ 1,038.3 51.6 million common shares currently
outstanding
Long-term investments were comprised of Midstream MLPs (70%),
General Partner MLPs (8%), MLP Affiliates (8%), Propane MLPs (7%),
Shipping (4%), Upstream MLPs (2%), and Coal and Other MLPs
(1%).
The Company’s ten largest holdings by issuer at November 30,
2009 were:
Units/Par ($)(in thousands)
Amount
($ millions)
Percent of
Long-Term
Investments
1. Plains All American Pipeline, L.P. (Midstream MLP) 2,876 145.5
9.2% 2. Magellan Midstream Partners, L.P. (Midstream MLP) 3,069
126.1 7.9% 3. Enterprise Products Partners L.P. (Midstream MLP)
4,110 122.4 7.7% 4. Inergy, L.P. (Propane MLP) 3,297 109.0 6.9% 5.
Kinder Morgan Management, LLC (MLP Affiliate) 1,897 95.4 6.0% 6.
MarkWest Energy Partners, L.P. (Midstream MLP) 3,210 / $2,000 84.2
5.3% 7. Energy Transfer Partners, L.P. (Midstream MLP) 1,760 76.2
4.8% 8. Copano Energy, L.L.C. (Midstream MLP) 3,476 / $2,300 72.5
4.6% 9. Energy Transfer Equity, L.P. (General Partner MLP) 2,398
70.7 4.4% 10. Enbridge Energy Partners, L.P. (Midstream MLP) 1,373
67.7 4.3%
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, 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.
Kayne Anderson Energy In... (NYSE:KYN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Kayne Anderson Energy In... (NYSE:KYN)
Historical Stock Chart
From Jul 2023 to Jul 2024