HOUSTON -- (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 July 31, 2015.
As of July 31, 2015, the Company’s net assets were $3.0 billion, and its
net asset value per share was $27.01. As of July 31, 2015, the Company’s
asset coverage ratio under the 1940 Act with respect to senior
securities representing indebtedness was 360% and the Company’s asset
coverage ratio under the 1940 Act with respect to total leverage (debt
and preferred stock) was 260%.
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Kayne Anderson MLP Investment Company |
Statement of Assets and Liabilities |
July 31, 2015 |
(Unaudited) |
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|
|
|
|
(in millions)
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|
|
Per Share
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Investments
| | | | |
$ 5,616.9
| | |
$ 50.51
|
Cash
| | | | |
146.5
| | |
1.32
|
Deposits
| | | | |
0.3
| | |
-
|
Accrued income
| | | | |
40.9
| | |
0.37
|
Receivable for securities sold
| | | | |
6.7
| | |
0.06
|
Other assets
| | | | |
13.8
| | |
0.12
|
Total assets
| | | | |
5,825.1
| | |
52.38
|
| | | | | | | |
|
Senior notes
| | | | |
1,356.0
| | |
12.20
|
Preferred stock
| | | | |
524.0
| | |
4.71
|
Total leverage
| | | | |
1,880.0
| | |
16.91
|
| | | | | | | |
|
Payable for securities purchased
| | | | |
25.0
| | |
0.22
|
Other liabilities
| | | | |
23.3
| | |
0.21
|
Deferred income tax liability
| | | | |
893.5
| | |
8.03
|
Total liabilities
| | | | |
941.8
| | |
8.46
|
| | | | | | | |
|
Net assets
| | | | |
$ 3,003.3
| | |
$ 27.01
|
| | | | | | | |
|
The Fund had 111,201,735 common shares outstanding as of July 31,
2015.
|
Long-term investments were comprised of Midstream MLP (82%), Midstream
Company (10%), General Partner MLP (4%), Shipping MLP (2%) and Other
(2%).
The Company’s ten largest holdings by issuer at July 31, 2015 were:
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Units (in thousands) | | |
Amounts ($ millions) | | |
Percent of Long-Term Investments |
1.
| | |
Enterprise Products Partners L.P. (Midstream MLP)
| | | | |
22,929
| | |
$649.6
| | |
11.6%
|
2.
| | |
Energy Transfer Partners, L.P. (Midstream MLP)
| | | | |
12,649
| | |
647.6
| | |
11.5%
|
3.
| | |
Williams Partners L.P. (Midstream MLP) *
| | | | |
11,053
| | |
509.9
| | |
9.1%
|
4.
| | |
Kinder Morgan, Inc. (Midstream Company)
| | | | |
14,027
| | |
485.9
| | |
8.7%
|
5.
| | |
Plains All American Pipeline, L.P. (Midstream MLP)
| | | | |
8,623
| | |
360.0
| | |
6.4%
|
6.
| | |
MarkWest Energy Partners, L.P. (Midstream MLP)
| | | | |
4,939
| | |
323.2
| | |
5.8%
|
7.
| | |
Buckeye Partners, L.P. (Midstream MLP)
| | | | |
2,875
| | |
215.5
| | |
3.8%
|
8.
| | |
DCP Midstream Partners, LP (Midstream MLP)
| | | | |
6,561
| | |
204.7
| | |
3.6%
|
9.
| | |
Western Gas Partners, LP (Midstream MLP)
| | | | |
3,384
| | |
199.6
| | |
3.6%
|
10.
| | |
ONEOK Partners, L.P. (Midstream MLP)
| | | | |
6,024
| | |
195.1
| | |
3.5%
|
_____________
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* On May 13, 2015, The Williams Companies, Inc. (“WMB”) announced
the acquisition of Williams Partners L.P. (“WPZ”). Subsequent to
this announcement, WMB received an unsolicited acquisition proposal
that was conditioned upon the termination of the agreement between
WPZ and WMB. On June 21, 2015, WMB announced that it is exploring a
range of strategic alternatives. As a result, closing of WMB’s
acquisition of WPZ is not certain. As of July 31, 2015, the Company
owned 292 shares ($15.3 million) of WMB.
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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 Fund’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 Fund’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 Fund undertakes no obligation to publicly update or
revise any forward-looking statements made herein. There is no assurance
that the Fund’s investment objective will be attained.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150803006456/en/
Contacts:
KA Fund Advisors, LLC
Monique Vo, 877-657-3863
http://www.kaynefunds.com/
Source: Kayne Anderson
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