Kayne Anderson MLP Investment Company Announces Public Offering of Common Stock
January 13 2010 - 4:16PM
Business Wire
Kayne Anderson MLP Investment Company (the “Company”) (NYSE:
KYN) announced that it has commenced a public offering of 5,500,000
shares of its common stock. The Company also intends to grant the
underwriters a 45-day option to purchase up to 825,000 additional
shares of its common stock to cover over-allotments, if any. Net
proceeds from the offering will be used to make additional
portfolio investments that are consistent with its investment
objective and for general corporate purposes.
“We believe the equity offering is well timed to take advantage
of our expectation for continued strength in the MLP market. While
we do not expect performance to be in line with the last three
quarters, which saw the MLP market increase over 50%, we expect
MLPs to continue to deliver low double-digit total returns over
both the short term and long term,” stated Kevin McCarthy, Chief
Executive Officer of the Company.
UBS Securities LLC, Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Citigroup Global Markets Inc., and Morgan Stanley
& Co. Incorporated are acting as joint book-running managers
for the equity offering. A copy of the preliminary prospectus
supplement and base prospectus relating to the offering may be
obtained from the following addresses:
UBS Securities LLCAttn: Prospectus
Department299 Park AvenueNew York, NY 10171Telephone:
888-827-7275
Merrill Lynch, Pierce, Fenner
& SmithIncorporatedAttn: Preliminary Prospectus Department4
World Financial CenterNew York, NY 10080Email:
Prospectus.Requests@ml.com
Citigroup Global Markets Inc.Attn:
Prospectus DepartmentBrooklyn Army Terminal140 58th Street, 8th
FloorBrooklyn, NY 11220Telephone: 800-831-9146
Morgan Stanley & Co.
IncorporatedAttn: Prospectus Department180 Varick Street, 2nd
FloorNew York, NY 10014Email:
prospectus@morganstanley.comTelephone: 866-718-1649
Investors may also obtain these documents free of charge from
the Company’s website at www.kaynefunds.com or the SEC’s website at
www.sec.gov.
An investor should read the Company’s preliminary prospectus
supplement and prospectus carefully before investing. The
preliminary prospectus supplement and prospectus contain important
information about the Company and its investment objective and
policies, risks, charges and expenses.
This press release does not constitute an offer to sell or a
solicitation to buy the securities described herein, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer or solicitation or sale would be unlawful prior
to registration or qualification under the laws of such state or
jurisdiction. A registration statement relating to these securities
was filed with, and has been declared effective by, the Securities
and Exchange Commission.
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 of
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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