Kayne Anderson Energy Infrastructure Fund Provides Unaudited Balance Sheet Information and Announces Its Net Asset Value and Asset Coverage Ratios at April 30, 2024

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Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) released unaudited balance sheet information revealing $1.9 billion in net assets and a net asset value per share of $11.20 as of April 30, 2024. The Company's asset coverage ratios stood at 616% for senior securities representing indebtedness and 445% for total leverage under the 1940 Act. The statement of assets and liabilities for the same period highlighted investments at $2,607.1 million, with long-term investments heavily concentrated in Midstream Energy Companies like Enterprise Products Partners L.P. and Energy Transfer LP. KYN aims to deliver a high after-tax total return by investing at least 80% of its assets in Energy Infrastructure Companies, focusing on cash distributions to shareholders.

HOUSTON, May 01, 2024 (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 April 30, 2024.

As of April 30, 2024, the Company’s net assets were $1.9 billion, and its net asset value per share was $11.20. As of April 30, 2024, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 616% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 445%.

STATEMENT OF ASSETS AND LIABILITIES APRIL 30, 2024 // (UNAUDITED)
			(in millions)
	Investments		$	2,607.1
	Cash and cash equivalents			3.7
	Receivable for securities sold			3.1
	Accrued income			17.2
	Current tax asset, net			7.8
	Other assets			1.5
	Total assets			2,640.4
	Credit facility			35.0
	Term loan			50.0
	Notes			311.7
	Unamortized notes issuance costs			(1.6	)
	Preferred stock			153.1
	Unamortized preferred stock issuance costs			(1.4	)
	Total leverage			546.8
	Payable for securities purchased			2.2
	Other liabilities			11.8
	Deferred tax liability, net			184.8
	Total liabilities			198.8
	Net assets		$	1,894.8

The Company had 169,126,038 common shares outstanding as of April 30, 2024.

Long-term investments were comprised of Midstream Energy Company (92%), Other Energy (5%), Utility Company (3%).

			Amount (in millions)*		% Long Term Investments
1.	Enterprise Products Partners L.P. (Midstream Energy Company)		$285.0		10.9%
2.	Energy Transfer LP (Midstream Energy Company)		268.3		10.3%
3.	MPLX LP (Midstream Energy Company)		257.5		9.9%
4.	The Williams Companies, Inc. (Midstream Energy Company)		230.5		8.8%
5.	Targa Resources Corp. (Midstream Energy Company)		211.6		8.1%
6.	ONEOK, Inc. (Midstream Energy Company)		197.8		7.6%
7.	Plains All American Pipeline, L.P. (Midstream Energy Company)		149.9		5.8%
8.	Cheniere Energy, Inc. (Midstream Energy Company)		139.4		5.3%
9.	Kinder Morgan, Inc. (Midstream Energy Company)		131.0		5.0%
10.	Western Midstream Partners, LP (Midstream Energy Company)		111.5		4.3%

*	Includes ownership of common and preferred units.

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 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 Kayne Anderson Energy Infrastructure Fund's net asset value per share as of April 30, 2024?

As of April 30, 2024, Kayne Anderson Energy Infrastructure Fund's net asset value per share was $11.20.

What are the asset coverage ratios for Kayne Anderson Energy Infrastructure Fund as of April 30, 2024?

As of April 30, 2024, Kayne Anderson Energy Infrastructure Fund reported asset coverage ratios of 616% for senior securities representing indebtedness and 445% for total leverage under the 1940 Act.

What is the investment objective of Kayne Anderson Energy Infrastructure Fund?

Kayne Anderson Energy Infrastructure Fund aims to provide a high after-tax total return with an emphasis on making cash distributions to stockholders by investing at least 80% of its total assets in securities of Energy Infrastructure Companies.

How many common shares were outstanding for Kayne Anderson Energy Infrastructure Fund as of April 30, 2024?

Kayne Anderson Energy Infrastructure Fund had 169,126,038 common shares outstanding as of April 30, 2024.