Kayne Anderson Energy Infrastructure Fund Provides Unaudited Balance Sheet Information and Announces Net Asset Value and Asset Coverage Ratios as of April 30, 2022
HOUSTON, Texas, May 02, 2022 (GLOBE NEWSWIRE) — Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company”) KYN today provided an unaudited summary statement of assets and liabilities and announced its net asset value and asset coverage ratios under the Investment Companies Act 1940 (the “Act of 1940”) as of April 30, 2022.
As of April 30, 2022, the Company’s net assets were $1.4 billion and its net asset value per share was $10.36. As of April 30, 2022, the coverage ratio of the assets of the Company under the law of 1940 compared to the senior securities representing the debt was 475% and the coverage ratio of the assets of the Company under the 1940 Act versus total leverage (debt and preferred stock) was 379%.
|Kayne Anderson Energy Infrastructure Fund, Inc.|
|Statement of assets and liabilities|
|April 30, 2022|
|Cash and cash equivalents||1.7|
|Treasury note sold short, net(1)||0.1|
|Products to receive||11.6|
|Current tax asset, net||4.8|
|Unamortized term loan issue costs||(0.1||)|
|Unamortized note issue costs||(0.8||)|
|Unamortized preferred share issue costs||(1.2||)|
|Deferred tax liability, net||119.7|
|(1) Net value of allocated cash proceeds of short position and fair market value of securities sold short.|
The Company had 136,131,530 common shares outstanding as of April 30, 2022.
Long-term investments included Midstream Energy Company (83%), Utility Company (9%), Renewable Infrastructure Company (6%) and Other Energy (2%).
The Company’s top ten holdings by issuer as of April 30, 2022 were:
|1.||MPLX LP (Intermediate Energy Company)||$228.3||11.3||%|
|2.||Enterprise Products Partners LP (Midstream Energy Company)||207.5||10.3||%|
|3.||Energy Transfer LP (Midstream Energy Company)||175.5||8.7||%|
|4.||Targa Resources Corp. (Intermediate Energy Company)||169.2||8.4||%|
|5.||The Williams Companies, Inc. (Midstream Energy Company)||147.9||7.3||%|
|6.||Plains All American Pipeline, LP *** (Midstream Energy Company)||108.0||5.3||%|
|7.||Cheniere Energy, Inc. (Intermediate Energy Company)||90.6||4.5||%|
|8.||Western Midstream Partners, LP (Midstream Energy Company)||87.9||4.3||%|
|9.||ONEOK, Inc. (Intermediate Energy Company)||72.3||3.6||%|
|ten.||Magellan Midstream Partners, LP (Midstream Energy Company)||69.1||3.4||%|
|*||Includes ownership of equity and debt securities investments.|
|***||Includes ownership of equity and debt investments of Plains All American Pipeline, LP (“PAA”) and Plains AAP, LP (“PAGP-AAP”).|
Portfolio holdings are subject to change without notice. Mention of specific securities does not constitute a recommendation or solicitation for anyone to buy, sell or hold any particular security. You can obtain a complete list of holdings by consulting the Company’s most recent quarterly or annual report.
Kayne Anderson Energy Infrastructure Fund, Inc. KYN is a non-diversified closed-end investment company registered under the Investment Company Act of 1940, as amended, whose common stock trades on the NYSE. The Company’s investment objective is to provide a high after-tax total return with an emphasis on cash distributions to shareholders. 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 does not constitute an offer to sell or a solicitation to buy, and there will be no sale of securities in any jurisdiction in which such offer or sale is not authorized. Nothing in this press release is intended to recommend any investment policy or strategy or to take into account any investor’s specific objectives or circumstances. Please consult your investment, tax or legal adviser regarding your personal circumstances before investing.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements reflecting assumptions, expectations, projections, intentions or beliefs regarding future events. These and other statements that do not relate strictly to historical or current facts constitute forward-looking statements as defined by US 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 developments; energy sector 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 current 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 can be no assurance that the Company’s investment objectives will be achieved.
Contact: Investor Relations at (877) 657-3863 or [email protected]