Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information & Announces its Net Asset Value & Asset Co...
May 03 2010 - 8:22PM
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 April 30, 2010.
As of April 30, 2010, the Company’s net assets were $1.349
billion and its net asset value per share was $23.12. As of April
30, 2010, the Company’s asset coverage ratio under the 1940 Act
with respect to senior securities representing indebtedness was
409% and the Company’s asset coverage ratio under the 1940 Act with
respect to total leverage (debt and preferred stock) was 352%.
Kayne Anderson MLP Investment Company Balance
Sheet April 30, 2010 (Unaudited) (in millions)
Investments $ 2,111.2 Repurchase agreements and cash 2.1 Deposits
1.1 Accrued income 15.5 Receivable for securities sold 1.2 Other
assets 2.5 Total assets 2,133.6 Short-term borrowings
91.0 Senior notes 370.0 Preferred stock 75.0 Total leverage
536.0 Payable for securities purchased 15.1 Deferred
tax liability 220.8 Other liabilities 12.6 Total liabilities
248.5 Net assets $ 1,349.1 58.4 million common shares
currently outstanding
Long-term investments were comprised of Midstream MLPs (70%),
General Partner MLPs (9%), MLP Affiliates (9%), Propane MLPs (6%),
Shipping (4%), Upstream MLPs (1%), and Coal (1%).
The Company’s ten largest holdings by issuer at April 30, 2010
were:
Units/Par ($)(in thousands)
Amount
($ millions)
Percent of
Long-Term
Investments
1. Plains All American Pipeline, L.P. (Midstream MLP) 2,876 166.8
7.9% 2. Enterprise Products Partners L.P. (Midstream MLP) 4,339
153.9 7.3% 3. Magellan Midstream Partners, L.P. (Midstream MLP)
3,150 149.9 7.1% 4. Kinder Morgan Management, LLC (MLP Affiliate)
2,502 147.2 7.0% 5. Inergy, L.P. (Propane MLP) 3,252 123.6 5.9% 6.
MarkWest Energy Partners, L.P. (Midstream MLP) 3,655 112.4 5.3% 7.
Copano Energy, L.L.C. (Midstream MLP) 3,659 95.9 4.5% 8. Energy
Transfer Equity, L.P. (General Partner MLP) 2,512 86.0 4.1% 9.
Energy Transfer Partners, L.P. (Midstream MLP) 1,724 84.3 4.0% 10.
Enbridge Energy Partners, L.P. (Midstream MLP) 1,558 79.9 3.8%
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