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

Rhea-AI Summary

Kayne Anderson Energy Infrastructure Fund announced its unaudited statement of assets and liabilities as of October 31, 2021. The company's net assets totaled $1.2 billion, with a net asset value per share of $9.44. Its asset coverage ratio under the 1940 Act for senior securities was 498%, and for total leverage, it stood at 379%. Investments primarily included midstream energy companies (82%), with the largest holdings being MPLX LP at $215.9 million and Enterprise Products Partners L.P. at $177.0 million.

Positive

• Net assets reached $1.2 billion.
• Net asset value per share is $9.44.
• Asset coverage ratio for senior securities at 498% indicates strong financial health.
• Diversification in investments with 82% in midstream energy companies.

Negative

• None.

HOUSTON, Nov. 01, 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 October 31, 2021.

As of October 31, 2021, the Company’s net assets were $1.2 billion, and its net asset value per share was $9.44. As of October 31, 2021, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 498% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 379%.

Kayne Anderson Energy Infrastructure Fund, Inc.
Statement of Assets and Liabilities
October 31, 2021
(Unaudited)
	(in millions)
Investments	$	1,684.2
Cash and cash equivalents		1.7
Accrued income		8.2
Current tax asset, net		12.0
Other assets		1.0
Total assets		1,707.1
Credit facility		66.0
Term loan		50.0
Unamortized term loan issuance costs		(0.1	)
Notes		209.7
Unamortized notes issuance costs		(0.9	)
Preferred stock		101.7
Unamortized preferred stock issuance costs		(1.3	)
Total leverage		425.1
Other liabilities		7.3
Deferred tax liability, net		80.5
Total liabilities		87.8
Net assets	$	1,194.2

The Company had 126,447,554 common shares outstanding as of October 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 October 31, 2021 were:

		Amount (in millions)			Percent of Long-Term Investments*
1.	MPLX LP (Midstream Energy Company)	$215.9			12.8	%
2.	Enterprise Products Partners L.P. (Midstream Energy Company)		177.0		10.5	%
3.	Energy Transfer LP (Midstream Energy Company)		140.5		8.3	%
4.	Targa Resources Corp. (Midstream Energy Company)		126.0		7.5	%
5.	The Williams Companies, Inc. (Midstream Energy Company)		108.0		6.4	%
6.	Plains All American Pipeline, L.P. ** (Midstream Energy Company)		90.4		5.4	%
7.	Western Midstream Partners, LP (Midstream Energy Company)		79.4		4.7	%
8.	ONEOK, Inc. (Midstream Energy Company)		67.3		4.0	%
9.	Magellan Midstream Partners, L.P. (Midstream Energy Company)		60.5		3.6	%
10.	TC Energy Corporation (Midstream Energy Company)		58.0		3.4	%

__________________________
* 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 October 31, 2021?

The net asset value per share of KYN as of October 31, 2021, is $9.44.

What were the total net assets of Kayne Anderson Energy Infrastructure Fund as of October 31, 2021?

As of October 31, 2021, the total net assets of Kayne Anderson Energy Infrastructure Fund were $1.2 billion.

What is the asset coverage ratio for KYN under the 1940 Act?

The asset coverage ratio for KYN under the 1940 Act was 498% for senior securities and 379% for total leverage as of October 31, 2021.

How much did KYN invest in MPLX LP?

KYN invested $215.9 million in MPLX LP.

What percentage of KYN's investments were in midstream energy companies?

As of October 31, 2021, 82% of KYN's long-term investments were in midstream energy companies.