Kayne Anderson NextGen Energy & Infrastructure Announces Completion of Private Placement of $40 Million of Notes

Rhea-AI Summary

Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF) has successfully completed a private placement of $40 million in 5.18% Series F senior unsecured notes. The proceeds from this placement will be utilized to refinance existing leverage and for general corporate purposes.

The Fund, focusing on Energy and Infrastructure sectors, aims to provide high total returns with a strong emphasis on cash distributions to its shareholders. KMF invests at least 80% of its assets in securities of energy and infrastructure companies, particularly those benefiting from the Energy Transition.

This announcement reflects the Fund's ongoing commitment to maintaining robust financial health and operational stability.

Positive

• Closed a successful private placement of $40 million.
• Secured a favorable interest rate of 5.18% on Series F senior unsecured notes.
• Proceeds will refinance existing leverage, enhancing financial stability.

Negative

• None.

HOUSTON, April 24, 2023 (GLOBE NEWSWIRE) -- Kayne Anderson NextGen Energy & Infrastructure, Inc. (the “Fund”) (NYSE: KMF) announced today that it completed its previously announced private placement of $40 million of 5.18% Series F senior unsecured notes (“Notes”).

As previously announced, net proceeds will be used to refinance existing leverage and for general corporate purposes.

Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF) 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 Fund’s investment objective is to provide a high level of total return with an emphasis on making cash distributions to its stockholders. The Fund seeks to achieve its investment objective by investing at least 80% of its total assets in securities of Energy Companies and Infrastructure Companies. The Fund anticipates that the majority of its investments will consist of investments in “NextGen” companies, which we define as Energy Companies and Infrastructure Companies that are meaningfully participating in, or benefitting from, the Energy Transition. See Glossary of Key Terms in the Fund’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 consider any investor’s specific objectives or circumstances. Before investing, please consult with your investment, tax, or legal adviser regarding your individual circumstances.

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 Fund’s filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual events could differ materially from these statements or 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 Fund’s investment objectives will be attained.

Contact: Investor Relations at 877-657-3863 or cef@kaynecapital.com

FAQ

What did Kayne Anderson NextGen Energy & Infrastructure announce on April 24, 2023?

They announced the completion of a $40 million private placement of 5.18% Series F senior unsecured notes.

How will the proceeds from the KMF private placement be used?

The proceeds will be used to refinance existing leverage and for general corporate purposes.

What is the investment focus of Kayne Anderson NextGen Energy & Infrastructure?

The Fund invests at least 80% of its total assets in securities of Energy and Infrastructure Companies.

What is the interest rate on the Series F senior unsecured notes issued by KMF?

The interest rate on the Series F senior unsecured notes is 5.18%.