Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information & Announces its Net Asset Value & Asset Co...
July 03 2012 - 3:29PM
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 June 30, 2012.
As of June 30, 2012, the Company’s net assets were $2.3 billion,
and its net asset value per share was $27.26. As of June 30, 2012,
the Company’s asset coverage ratio under the 1940 Act with respect
to senior securities representing indebtedness was 396% and the
Company’s asset coverage ratio under the 1940 Act with respect to
total leverage (debt and preferred stock) was 279%.
Kayne Anderson MLP Investment Company Statement of Assets
and Liabilities June 30, 2012 (Unaudited)
(in millions) Per Share Investments $ 4,036.7 $ 48.60 Cash
7.0 0.08 Deposits 0.5 0.01 Accrued income 1.3 0.02 Receivable for
securities sold 21.6 0.26 Other assets 11.9 0.14
Total assets 4,079.0 49.11 Senior notes 890.0 10.72
Preferred stock 374.0 4.50 Total leverage
1,264.0 15.22 Payable for securities purchased 5.8
0.07 Deferred tax liability 536.5 6.46 Other liabilities 8.7
0.10 Total liabilities 551.0 6.63 Net assets $
2,264.0 $ 27.26 The Company had 83.06 million common shares
outstanding as of June 30, 2012.
Long-term investments were comprised of Midstream MLP (69%), MLP
Affiliate (9%), General Partner MLP (7%), Shipping MLP (5%),
Upstream MLP & Income Trust (3%), Coal & Other MLP (2%) and
Other (5%).
The Company’s ten largest holdings by issuer at June 30, 2012
were:
Percent of
Units
Amount
Long-Term
(in thousands)
($ millions)
Investments
1. Enterprise Products Partners L.P. (Midstream MLP) 7,612 390.0
9.7% 2. Kinder Morgan Management, LLC (MLP Affiliate) 4,050 297.3
7.4% 3. Plains All American Pipeline, L.P. (Midstream MLP) 3,426
276.8 6.9% 4. MarkWest Energy Partners, L.P. (Midstream MLP) 4,446
219.2 5.4% 5. Energy Transfer Equity, L.P. (General Partner MLP)
4,691 192.4 4.8% 6.
Regency Energy Partners LP (Midstream
MLP)
7,733 183.8 4.6%
7.
El Paso Pipeline Partners, L.P. (Midstream MLP) 4,676 158.1 3.9%
8.
Williams Partners L.P. (Midstream MLP) 2,972 155.3 3.8% 9. Magellan
Midstream Partners, L.P. (Midstream MLP) 2,129 150.4 3.7% 10. ONEOK
Partners, L.P. (Midstream MLP) 2,507 134.7 3.3%
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 (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 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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