Kayne Anderson Energy Infrastructure Fund Announces Completion of Private Placement of Notes

Rhea-AI Summary

Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) announced the completion of a $45 million private placement of 4.57% Series RR senior unsecured notes, aimed at refinancing existing leverage and supporting general corporate purposes. The company also disclosed plans to issue $45 million of 4.67% Series SS Notes and $20 million of 5.07% Series T MRP Shares on August 2, 2022. KYN invests primarily in Energy Infrastructure Companies, focusing on delivering high after-tax total returns with cash distributions to shareholders.

Positive

• Successfully completed $45 million private placement of senior unsecured notes.
• Proceeds will refinance existing leverage, potentially improving financial stability.

Negative

• Dependence on external financing increases financial risk.
• Forward-looking statements indicate uncertainties regarding investment objectives.

HOUSTON, May 18, 2022 (GLOBE NEWSWIRE) -- Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company”) (NYSE: KYN) announced today that it completed its previously announced private placement of $45 million of 4.57% Series RR senior unsecured notes (“Notes”). These proceeds will be used to refinance existing leverage and for general corporate purposes.

As previously announced, the remaining funding of the $45 million of 4.67% Series SS Notes and $20 million of 5.07% Series T MRP Shares will be issued on August 2, 2022.

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 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 Company’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 Company’s investment objectives will be attained.

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

FAQ

What is the recent financial announcement by Kayne Anderson Energy Infrastructure Fund (KYN)?

KYN announced the completion of a $45 million private placement of 4.57% Series RR senior unsecured notes for refinancing and corporate purposes.

What are the future financial plans of Kayne Anderson Energy Infrastructure Fund (KYN)?

KYN plans to issue additional funding of $45 million of 4.67% Series SS Notes and $20 million of 5.07% Series T MRP Shares on August 2, 2022.

What is the investment focus of Kayne Anderson Energy Infrastructure Fund (KYN)?

KYN focuses on investing at least 80% of its total assets in securities of Energy Infrastructure Companies to provide high after-tax returns.

What risks are associated with Kayne Anderson Energy Infrastructure Fund (KYN)?

KYN acknowledges various risks including market conditions, regulatory changes, and financial leverage that could impact investment outcomes.