Kayne Anderson MLP Investment Company Announces Pricing of Senior Notes Offering
August 15 2013 - 11:41PM
Business Wire
Kayne Anderson MLP Investment Company (the “Company”) (NYSE:
KYN) today announced that is has priced a $175 million senior notes
offering. The Company is issuing floating rate senior notes (the
“Series HH Senior Notes”) to qualified institutional buyers in a
private offering pursuant to Rule 144A under the Securities Act of
1933.
The Series HH Senior Notes mature on August 19, 2016 and pay
interest at a rate of 3-month LIBOR plus 1.25% per annum.
The sale of Senior Notes is expected to close on August 22,
2013, and net proceeds of approximately $174 million from the
offering will be used to make new portfolio investments, to repay
outstanding indebtedness and for general corporate purposes.
This press release is neither an offer to sell nor a
solicitation of an offer to buy the Senior Notes, nor shall there
be any sale of these securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or jurisdiction.
The Senior Notes will not be registered under the Securities Act
of 1933 and may not be offered or sold in the United States absent
registration or an applicable exemption from registration. The
offering is being made to qualified institutional buyers pursuant
to Rule 144A under the Securities Act of 1933.
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.
KA Fund Advisors, LLCMonique Vo,
877-657-3863www.kaynefunds.com
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