Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information & Announces its Net Asset Value & Asset Co...
September 05 2013 - 6:11PM
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 August 31, 2013.
As of August 31, 2013, the Company’s net assets were $3.3
billion, and its net asset value per share was $33.01. As of August
31, 2013, the Company’s asset coverage ratio under the 1940 Act
with respect to senior securities representing indebtedness was
411% and the Company’s asset coverage ratio under the 1940 Act with
respect to total leverage (debt and preferred stock) was 307%.
Kayne Anderson MLP Investment Company Statement of Assets
and Liabilities August 31, 2013 (Unaudited) (in
millions) Per Share Investments $ 5,873.9 $ 58.90 Cash 2.4
0.02 Deposits 0.3 - Accrued income 0.7 0.01 Receivable for
securities sold 3.8 0.04 Other assets 13.7 0.14 Total
assets 5,894.8 59.11 Credit facility borrowings 13.0 0.13
Senior notes 1,175.0 11.78 Preferred stock 399.0 4.00
Total leverage 1,587.0 15.91 Payable for
securities purchased 3.8 0.04 Deferred tax liability 981.7 9.84
Other liabilities 31.0 0.31 Total liabilities 1,016.5
10.19 Net assets $ 3,291.3 $ 33.01 The Company had
99.72 million common shares outstanding as of August 31, 2013.
Long-term investments were comprised of Midstream MLP (83%),
General Partner MLP (2%), Shipping MLP (4%), Upstream MLP &
Income Trust (3%), Midstream (5%) and Other (3%).
The Company’s ten largest holdings by issuer at August 31, 2013
were:
Units(in thousands)
Amount
($ millions)
Percent of Long-Term Investments 1. Enterprise Products
Partners L.P. (Midstream MLP) 8,868 $ 526.9 9.0 % 2. MarkWest
Energy Partners, L.P. (Midstream MLP) 5,387 359.8 6.1 % 3. Plains
All American Pipeline, L.P. (Midstream MLP) 6,902 349.0 5.9 % 4.
Williams Partners L.P. (Midstream MLP) 6,790 334.9 5.7 % 5. Kinder
Morgan Management, LLC (Midstream MLP) 3,952 315.5 5.4 % 6. Energy
Transfer Partners, L.P. (Midstream MLP) 5,382 275.9 4.7 % 7.
Regency Energy Partners LP (Midstream MLP) 8,797 237.8 4.0 % 8. DCP
Midstream Partners, LP (Midstream MLP) 4,845 232.2 4.0 % 9. Kinder
Morgan Energy Partners, LP (Midstream MLP) 2,486 202.7 3.5 % 10.
ONEOK Partners, L.P. (Midstream MLP) 3,907 193.7 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.
KA Fund Advisors, LLCMonique Vo,
877-657-3863http://www.kaynefunds.com
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