Kayne Anderson Energy Infrastructure Fund Enters Into $175 Million Revolving Credit Facility
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) has secured a new $175 million unsecured revolving credit facility, replacing its previous $135 million facility. The new facility matures on February 19, 2026, with interest rates varying between SOFR plus 1.40% and 2.25%, depending on asset coverage ratios. Currently, the rate stands at SOFR plus 1.40%, with a 0.20% commitment fee on unused amounts.
As of February 20, 2025, KYN has borrowed $101 million under the facility. The company, a non-diversified, closed-end management investment company, focuses on providing high after-tax returns through investments in Energy Infrastructure Companies, with at least 80% of total assets allocated to this sector.
Il Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) ha ottenuto una nuova linea di credito revolving non garantita di 175 milioni di dollari, sostituendo la precedente linea di credito di 135 milioni di dollari. La nuova linea scade il 19 febbraio 2026, con tassi di interesse che variano tra SOFR più 1,40% e 2,25%, a seconda dei rapporti di copertura degli attivi. Attualmente, il tasso è fissato a SOFR più 1,40%, con una commissione di impegno dello 0,20% sugli importi non utilizzati.
Al 20 febbraio 2025, KYN ha preso in prestito 101 milioni di dollari sotto la linea di credito. L'azienda, una società di investimento a gestione chiusa non diversificata, si concentra sulla fornitura di alti rendimenti dopo le tasse attraverso investimenti in società di infrastrutture energetiche, con almeno l'80% del totale degli attivi allocati a questo settore.
El Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) ha conseguido una nueva línea de crédito revolving no garantizada de 175 millones de dólares, reemplazando su anterior línea de 135 millones de dólares. La nueva línea vence el 19 de febrero de 2026, con tasas de interés que varían entre SOFR más 1.40% y 2.25%, dependiendo de los ratios de cobertura de activos. Actualmente, la tasa se sitúa en SOFR más 1.40%, con una tarifa de compromiso del 0.20% sobre los montos no utilizados.
Hasta el 20 de febrero de 2025, KYN ha tomado prestados 101 millones de dólares bajo la línea de crédito. La compañía, una empresa de inversión cerrada y no diversificada, se centra en proporcionar altos rendimientos después de impuestos a través de inversiones en empresas de infraestructura energética, con al menos el 80% de los activos totales asignados a este sector.
케인 앤더슨 에너지 인프라 펀드 (NYSE: KYN)는 새로운 1억 7500만 달러 규모의 무담보 리볼빙 신용 시설을 확보하여 기존의 1억 3500만 달러 시설을 대체했습니다. 새로운 시설은 2026년 2월 19일 만료되며, 이자율은 자산 커버리지 비율에 따라 SOFR 플러스 1.40%에서 2.25% 사이로 변동합니다. 현재 이자율은 SOFR 플러스 1.40%로, 미사용 금액에 대해 0.20%의 약정 수수료가 부과됩니다.
2025년 2월 20일 기준으로 KYN은 이 시설을 통해 1억 100만 달러를 차입했습니다. 이 회사는 비다각화된 폐쇄형 관리 투자 회사로, 에너지 인프라 기업에 대한 투자로 세후 높은 수익을 제공하는 데 집중하고 있으며, 총 자산의 최소 80%를 이 부문에 할당하고 있습니다.
Le Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) a obtenu une nouvelle ligne de crédit revolving non garantie de 175 millions de dollars, remplaçant son ancienne ligne de 135 millions de dollars. La nouvelle ligne arrive à échéance le 19 février 2026, avec des taux d'intérêt variant entre SOFR plus 1,40% et 2,25%, selon les ratios de couverture des actifs. Actuellement, le taux est fixé à SOFR plus 1,40%, avec des frais d'engagement de 0,20% sur les montants non utilisés.
Au 20 février 2025, KYN a emprunté 101 millions de dollars dans le cadre de la ligne de crédit. L'entreprise, une société de gestion d'investissement fermée non diversifiée, se concentre sur la fourniture de rendements nets d'impôt élevés grâce à des investissements dans des entreprises d'infrastructure énergétique, avec au moins 80% des actifs totaux alloués à ce secteur.
Der Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) hat eine neue unbesicherte revolvierende Kreditlinie über 175 Millionen US-Dollar gesichert, die die vorherige Kreditlinie über 135 Millionen US-Dollar ersetzt. Die neue Kreditlinie läuft am 19. Februar 2026 aus, wobei die Zinssätze zwischen SOFR plus 1,40% und 2,25% variieren, abhängig von den Vermögensdeckung quoten. Derzeit liegt der Zinssatz bei SOFR plus 1,40%, mit einer Verpflichtungsgebühr von 0,20% auf ungenutzte Beträge.
Bis zum 20. Februar 2025 hat KYN 101 Millionen US-Dollar aus der Kreditlinie entnommen. Das Unternehmen, eine nicht diversifizierte geschlossene Investmentgesellschaft, konzentriert sich darauf, hohe Nachsteuer-Renditen durch Investitionen in Energieinfrastrukturunternehmen zu erzielen, wobei mindestens 80% der Gesamtanlagen in diesem Sektor investiert sind.
- Increased credit facility from $135M to $175M, providing greater financial flexibility
- Current interest rate at SOFR + 1.40%, the lowest end of the range
- Extended maturity date by one year to February 19, 2026
- High leverage with $101M already borrowed under the new facility
Insights
The new $175 million revolving credit facility represents a strategic enhancement to KYN's financial flexibility, with the 30% increase from the previous $135 million facility indicating strong lender confidence and improved borrowing capacity. The timing of this refinancing, completed ahead of the previous facility's maturity, demonstrates proactive financial management and helps avoid any refinancing risk in the current volatile rate environment.
The facility's pricing mechanism, ranging from SOFR plus 1.40% to 2.25%, provides a competitive cost of capital, with the current rate at the lower end of this range reflecting strong asset coverage ratios. The 0.20% commitment fee on unused portions represents efficient liquidity management, as it allows KYN to maintain financial flexibility without incurring excessive carrying costs.
With $101 million currently drawn, representing approximately 58% utilization, KYN maintains substantial dry powder of $74 million for opportunistic investments in energy infrastructure assets. This becomes particularly relevant given the fund's mandate to invest at least 80% of total assets in Energy Infrastructure Companies, providing ample capacity to capitalize on market opportunities while maintaining prudent leverage levels.
The facility's unsecured nature offers greater operational flexibility compared to secured facilities, while the one-year term aligns with typical closed-end fund financing structures. This refinancing strengthens KYN's ability to maintain its distribution policy, though investors should note that distribution amounts remain subject to market conditions and portfolio performance.
HOUSTON, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company”) (NYSE: KYN) has entered into a
The interest rate on outstanding borrowings under the Credit Facility may vary between SOFR plus
A copy of the credit agreement is available on the Company’s website at www.kaynefunds.com/kyn.
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
The Company pays cash distributions to common stockholders at a rate that may be adjusted from time to time. Distribution amounts are not guaranteed and may vary depending on a number of factors, including changes in portfolio holdings and market conditions.
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@kayneanderson.com.
FAQ
What is the size and terms of KYN's new credit facility announced in February 2025?
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