Kayne Anderson Energy Infrastructure Fund Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at September 30, 2023
October 02 2023 - 6:25PM
Kayne Anderson Energy Infrastructure Fund, Inc. (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, 2023.
As of September 30, 2023, the Company’s net assets were $1.4
billion, and its net asset value per share was $9.95. As of
September 30, 2023, the Company’s asset coverage ratio under the
1940 Act with respect to senior securities representing
indebtedness was 598% and the Company’s asset coverage ratio under
the 1940 Act with respect to total leverage (debt and preferred
stock) was 434%.
Kayne
Anderson Energy Infrastructure Fund, Inc. |
Statement of
Assets and Liabilities |
September
30, 2023 |
(Unaudited) |
|
(in millions) |
Investments |
|
$ |
1,891.1 |
|
Cash and
cash equivalents |
|
|
10.3 |
|
Receivable
for securities sold |
|
|
4.7 |
|
Accrued
income |
|
|
1.2 |
|
Current tax
asset, net |
|
|
1.8 |
|
Other
assets |
|
|
1.4 |
|
Total assets |
|
|
1,910.5 |
|
|
|
Term
loan |
|
|
50.0 |
|
Notes |
|
|
244.2 |
|
Unamortized
notes issuance costs |
|
|
(1.1 |
) |
Preferred
stock |
|
|
111.6 |
|
Unamortized
preferred stock issuance costs |
|
|
(1.2 |
) |
Total leverage |
|
|
403.5 |
|
|
|
Distribution
payable |
|
|
28.6 |
|
Other
liabilities |
|
|
5.6 |
|
Deferred tax
liability, net |
|
|
118.1 |
|
Total liabilities |
|
|
152.3 |
|
|
|
Net
assets |
|
$ |
1,354.7 |
|
|
|
The Company had 136,131,530 common shares
outstanding as of September 30, 2023.
Long-term investments were comprised of Midstream Energy Company
(91%), Utility Company (4%), Renewable Infrastructure Company (4%)
and Other Energy (1%).
The Company’s ten largest holdings by issuer at September 30,
2023 were:
|
|
Amount(in millions)* |
|
Percent ofLong-TermInvestments |
1. |
Energy Transfer LP (Midstream
Energy Company) |
$237.4 |
|
12.6% |
2. |
Enterprise Products Partners
L.P. (Midstream Energy Company) |
222.2 |
|
11.8% |
3. |
MPLX LP (Midstream Energy
Company) |
200.1 |
|
10.6% |
4. |
The Williams Companies, Inc.
(Midstream Energy Company) |
161.7 |
|
8.5% |
5. |
Targa Resources Corp.
(Midstream Energy Company) |
140.9 |
|
7.4% |
6. |
Plains All American Pipeline,
L.P. (Midstream Energy Company) |
138.2 |
|
7.3% |
7. |
Cheniere Energy, Inc.
(Midstream Energy Company) |
120.0 |
|
6.3% |
8. |
ONEOK, Inc. (Midstream Energy
Company) |
119.1 |
|
6.3% |
9. |
Western Midstream Partners, LP
(Midstream Energy Company) |
91.8 |
|
4.9% |
10. |
Kinder Morgan, Inc. (Midstream
Energy Company) |
51.6 |
|
2.7% |
|
|
|
|
|
_________________
* |
Includes ownership of common and
preferred units. |
|
|
Portfolio holdings are subject to change without notice. The
mention of specific securities is not a recommendation or
solicitation for any person to buy, sell or hold any particular
security. You can obtain a complete listing of holdings by viewing
the Company’s most recent quarterly or annual report.
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a
non-diversified, closed-end management investment company
registered under the Investment Company Act of 1940, as amended,
whose common stock is traded on the NYSE. The company's investment
objective is to provide a high after-tax total return with an
emphasis on making cash distributions to stockholders. KYN intends
to achieve this objective by investing at least 80% of its total
assets in securities of Energy Infrastructure Companies. See
Glossary of Key Terms in the Company’s most recent quarterly report
for a description of these investment categories and the meaning of
capitalized terms.
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of any securities
in any jurisdiction in which such offer or sale is not permitted.
Nothing contained in this press release is intended to recommend
any investment policy or investment strategy or take into account
the specific objectives or circumstances of any investor. Please
consult with your investment, tax, or legal adviser regarding your
individual circumstances prior to investing.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This
communication contains statements reflecting assumptions,
expectations, projections, intentions, or beliefs about future
events. These and other statements not relating strictly to
historical or current facts constitute forward-looking statements
as defined under the U.S. federal securities laws. Forward-looking
statements involve a variety of risks and uncertainties. These
risks include, but are not limited to, changes in economic and
political conditions; regulatory and legal changes; energy industry
risk; leverage risk; valuation risk; interest rate risk; tax risk;
and other risks discussed in detail in the Company’s filings with
the SEC, available at www.kaynefunds.com or www.sec.gov. Actual
events could differ materially from these statements or from our
present expectations or projections. You should not place undue
reliance on these forward-looking statements, which speak only as
of the date they are made. Kayne Anderson 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.
Contact: Investor Relations at (877) 657-3863 or
cef@kaynecapital.com
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