Kayne Anderson Energy Infrastructure Fund Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at August 31, 2021

Rhea-AI Summary

Kayne Anderson Energy Infrastructure Fund (KYN) reported its net assets of $1.1 billion and a net asset value per share of $8.89 as of August 31, 2021. The company disclosed an asset coverage ratio of 491% for senior securities and 371% for total leverage. Total assets amounted to $1.6 billion, with long-term investments primarily in Midstream Energy Companies (82%), and the top ten holdings included MPLX LP ($204.5 million, 13.4% of long-term investments).

Positive

• Net assets increased to $1.1 billion.
• Asset coverage ratio for senior securities at 491% indicates strong financial leverage management.
• Company holds substantial long-term investments in Midstream Energy Companies, providing a stable investment base.

Negative

• None.

HOUSTON, Sept. 02, 2021 (GLOBE NEWSWIRE) -- Kayne Anderson Energy Infrastructure Fund, Inc. (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 August 31, 2021.

As of August 31, 2021, the Company’s net assets were $1.1 billion, and its net asset value per share was $8.89. As of August 31, 2021, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 491% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 371%.

Kayne Anderson Energy Infrastructure Fund, Inc.
Statement of Assets and Liabilities
August 31, 2021
(Unaudited)
		(in millions)
Investments		$	1,530.6
Cash and cash equivalents			1.6
Accrued income			2.0
Current tax receivable, net			65.5
Other assets			1.2
Total assets			1,600.9
Credit facility			54.0
Term loan			50.0
Unamortized term loan issuance costs			(0.1	)
Notes			209.7
Unamortized notes issuance costs			(1.0	)
Preferred stock			101.7
Unamortized preferred stock issuance costs			(1.3	)
Total leverage			413.0
Payable for securities purchased			0.8
Other liabilities			8.6
Deferred tax liability, net			54.2
Total liabilities			63.6
Net assets		$	1,124.3

The Company had 126,447,554 common shares outstanding as of August 31, 2021.

Long-term investments were comprised of Midstream Energy Company (82%), Utility Company (9%), Renewable Infrastructure Company (8%) and Other Energy (1%).

The Company’s ten largest holdings by issuer at August 31, 2021 were:

			Amount (in millions)			Percent of Long-Term Investments1
1.	MPLX LP (Midstream Energy Company)		$204.5			13.4	%
2.	Enterprise Products Partners L.P. (Midstream Energy Company)			174.0		11.4	%
3.	Energy Transfer LP (Midstream Energy Company)			137.4		9.0	%
4.	Targa Resources Corp. (Midstream Energy Company)			114.9		7.5	%
5.	The Williams Companies, Inc. (Midstream Energy Company)			95.0		6.2	%
6.	Plains All American Pipeline, L.P. ** (Midstream Energy Company)			82.9		5.4	%
7.	Western Midstream Partners, LP (Midstream Energy Company)			73.8		4.8	%
8.	Magellan Midstream Partners, L.P. (Midstream Energy Company)			60.7		4.0	%
9.	ONEOK, Inc. (Midstream Energy Company)			55.6		3.6	%
10.	Cheniere Energy, Inc. (Midstream Energy Company)			47.5		3.1	%

________________________
* Excludes cash.
** Includes ownership of Plains All American Pipeline, L.P. (“PAA”) and Plains AAP, L.P. (“PAGP-AAP”).

Portfolio holdings are subject to change without notice. The mention of specific securities is not a recommendation or solicitation for any person to buy, sell or hold any particular security. You can obtain a complete listing of holdings by viewing the Company’s most recent quarterly or annual report.

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 take into account the specific objectives or circumstances of any investor. Please consult with your investment, tax, or legal adviser regarding your individual circumstances prior to investing.

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 from 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 net asset value per share of KYN as of August 31, 2021?

The net asset value per share of KYN as of August 31, 2021, is $8.89.

What are the asset coverage ratios reported by KYN?

KYN reported an asset coverage ratio of 491% for senior securities and 371% for total leverage.

What were the total assets of KYN as of August 31, 2021?

KYN's total assets amounted to $1.6 billion as of August 31, 2021.

What percentage of KYN's long-term investments are in Midstream Energy Companies?

KYN's long-term investments comprised 82% in Midstream Energy Companies.

Who are the top holdings of KYN?

KYN's top holdings include MPLX LP, Enterprise Products Partners L.P., and Energy Transfer LP.