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 September 30, 2014.
As of September 30, 2014, the Company’s net assets were $4.4 billion,
and its net asset value per share was $40.39. As of September 30, 2014,
the Company’s asset coverage ratio under the 1940 Act with respect to
senior securities representing indebtedness was 412% and the Company’s
asset coverage ratio under the 1940 Act with respect to total leverage
(debt and preferred stock) was 313%.
|
Kayne Anderson MLP Investment Company |
Statement of Assets and Liabilities |
September 30, 2014 |
(Unaudited) |
|
(in millions)
|
|
Per Share
|
Investments
|
$
|
8,054.7
| |
$
|
73.70
|
Cash
| |
0.9
| | |
0.01
|
Deposits
| |
0.3
| | |
-
|
Accrued income
| |
0.8
| | |
0.01
|
Receivable for securities sold
| |
42.5
| | |
0.39
|
Other assets
|
|
15.6
| |
|
0.14
|
Total assets
| |
8,114.8
| | |
74.25
|
| | |
|
Credit facility / Term loan
| |
278.0
| | |
2.54
|
Senior notes
| |
1,295.0
| | |
11.85
|
Preferred stock
|
|
499.0
| |
|
4.57
|
Total leverage
|
|
2,072.0
| |
|
18.96
|
| | |
|
Payable for securities purchased
| |
15.1
| | |
0.14
|
Other liabilities
| |
23.0
| | |
0.21
|
Deferred income tax liability
|
|
1,590.2
| |
|
14.55
|
Total liabilities
| |
1,628.3
| | |
14.90
|
| | |
|
Net assets
|
$
|
4,414.5
| |
$
|
40.39
|
| | |
|
The Fund had 109,297,777 common shares outstanding as of September
30, 2014.
|
|
Long-term investments were comprised of Midstream MLP (85%), Midstream
Company (5%), Shipping MLP (3%), Upstream MLP & Income Trust (2%),
General Partner MLP (2%) and Other (3%).
The Company’s ten largest holdings by issuer at September 30, 2014 were:
| |
| |
| |
| |
| | |
Units
(in thousands) | |
Amounts
($ millions) | |
Percent of Long-Term Investments |
1.
|
Enterprise Products Partners L.P. (Midstream MLP)
| |
18,585
| |
$749.0
| |
9.3%
|
2.
|
Regency Energy Partners LP (Midstream MLP)
| |
15,064
| |
491.4
| |
6.1%
|
3.
|
Kinder Morgan Management, LLC (Midstream MLP)*
| |
5,082
| |
478.5
| |
5.9%
|
4.
|
Energy Transfer Partners, L.P. (Midstream MLP)
| |
7,014
| |
448.8
| |
5.6%
|
5.
|
MarkWest Energy Partners, L.P. (Midstream MLP)
| |
5,838
| |
448.5
| |
5.6%
|
6.
|
Williams Partners L.P. (Midstream MLP)
| |
7,847
| |
416.3
| |
5.2%
|
7.
|
Plains All American Pipeline, L.P. (Midstream MLP)
| |
6,948
| |
408.9
| |
5.1%
|
8.
|
DCP Midstream Partners, LP (Midstream MLP)
| |
6,329
| |
344.6
| |
4.3%
|
9.
|
ONEOK Partners, L.P. (Midstream MLP)
| |
5,895
| |
329.9
| |
4.1%
|
10.
|
Crestwood Midstream Partners LP (Midstream MLP)
| |
10,785
| |
244.5
| |
3.0%
|
_____________
|
* On August 10, 2014, Kinder Morgan, Inc. (“KMI”) announced that it will
acquire all of the outstanding equity securities of Kinder Morgan
Management, LLC (“KMR”), Kinder Morgan Energy Partners, L.P. (“KMP”) and
El Paso Pipeline Partners, L.P. (“EPB”). In addition to the KMR shares
owned by the Company, it owns 1,447 shares of KMI ($55.5 million), 1,944
common units of KMP ($181.3 million) and 5,305 common units of EPB
($213.1 million).
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.
Contacts:
KA Fund Advisors, LLC
Monique Vo, 877-657-3863
http://www.kaynefunds.com/
Source: Kayne Anderson MLP Investment Company
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