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Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at March 31, 2017

 April 3, 2017 - 8:50 PM EDT

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Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at March 31, 2017

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 March 31, 2017.

As of March 31, 2017, the Company’s net assets were $2.3 billion, and
its net asset value per share was $20.60. As of March 31, 2017, the
Company’s asset coverage ratio under the 1940 Act with respect to senior
securities representing indebtedness was 416% and the Company’s asset
coverage ratio under the 1940 Act with respect to total leverage (debt
and preferred stock) was 306%.

 

Kayne Anderson MLP Investment Company

Statement of Assets and Liabilities
March 31, 2017
(Unaudited)
    (in millions)     Per Share
Investments $ 4,208.5 $ 36.91
Cash and cash equivalents 2.0 0.02
Deposits 0.3 -
Accrued income 0.6 0.01
Receivable for securities sold 13.7 0.12
Income tax receivable 7.9 0.07
Other assets   8.0   0.07
Total assets 4,241.0 37.20
 
Term loan 72.0 0.63
Senior notes 767.0 6.73
Preferred stock   300.0   2.63
Total leverage   1,139.0   9.99
 
Payable for securities purchased 12.3 0.11
Other liabilities 14.3 0.12
Deferred income tax liability   727.1   6.38
Total liabilities 753.7 6.61
 
Net assets $ 2,348.3 $ 20.60

 

The Company had 114,011,997 common shares outstanding as of March
31, 2017.

 

Long-term investments were comprised of Midstream MLP (93%), Midstream
Company (5%) and Shipping MLP (2%).

The Company’s ten largest holdings by issuer at March 31, 2017 were:

 
       

Units / Shares
(in thousands)

   

Amount
($ millions)

   

Percent of
Long-Term
Investments

1. Enterprise Products Partners L.P. (Midstream MLP) 19,085 $526.9 12.5%
2. Williams Partners L.P. (Midstream MLP) 9,661 394.5 9.4%
3. Energy Transfer Partners, L.P. (Midstream MLP)* 10,691 390.4 9.3%
4. ONEOK Partners, L.P. (Midstream MLP)** 5,971 322.4 7.7%
5. Plains All American Pipeline, L.P. (Midstream MLP) 8,962 283.3 6.7%
6. MPLX LP (Midstream MLP)*** 7,009 260.9 6.2%
7. Western Gas Partners, LP (Midstream MLP)**** 3,841 232.2 5.5%
8. DCP Midstream Partners, LP (Midstream MLP) 5,442 213.5 5.1%
9. Buckeye Partners, L.P. (Midstream MLP) 2,748 188.4 4.5%
10. Targa Resources Corp. (Midstream Company) 3,137 187.9 4.5%

 

_____________
* On November 21, 2016, Energy Transfer Partners, L.P. (“ETP”) and
Sunoco Logistics Partners L.P. (“SXL”) announced an agreement to
combine in a unit-for-unit merger. On a combined basis, ETP and SXL
represent 11.5% of long-term investments as of March 31, 2017.
 
** On February 1, 2017, ONEOK, Inc. (“OKE”) and ONEOK Partners, L.P.
(“OKS”) announced an agreement to combine in a stock-for-unit
merger. As of March 31, 2017, the Company did not own any OKE shares.
 
*** Includes 4,753 common units ($171.5 million) and 2,256 preferred
units ($89.4 million).
 
**** Includes 3,774 common units ($228.1 million) and 67 preferred
units ($4.1 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.

KA Fund Advisors, LLC
Monique Vo, 877-657-3863
http://www.kaynefunds.com/

Source: Business Wire
(April 3, 2017 - 8:50 PM EDT)

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