Kayne Anderson Energy Infrastructure Fund Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at April 30, 2021

Rhea-AI Summary

Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) reported its unaudited statement of assets and liabilities as of April 30, 2021. The company's net assets stood at $1.1 billion with a net asset value per share of $8.64. The asset coverage ratio regarding senior securities was 510%, while the total leverage asset coverage ratio was 357%.

The fund's total assets reached $1.6 billion, primarily invested in Midstream Energy (83%), Utilities (9%), and Renewable Infrastructure (8%).

Positive

• Net assets of $1.1 billion indicate strong financial health.
• Asset coverage ratios of 510% (senior securities) and 357% (total leverage) demonstrate robust leverage management.
• Investment strategy focusing on energy infrastructure supports potential growth.

Negative

• None.

HOUSTON, May 03, 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 April 30, 2021.

As of April 30, 2021, the Company’s net assets were $1.1 billion, and its net asset value per share was $8.64. As of April 30, 2021, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 510% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 357%.

Kayne Anderson Energy Infrastructure Fund, Inc.
Statement of Assets and Liabilities
April 30, 2021
(Unaudited)
		(in millions)
Investments		$	1,478.9
Cash and cash equivalents			2.3
Receivable for securities sold			0.1
Accrued income			9.0
Current tax receivable, net			65.9
Other assets			1.2
Total assets			1,557.4
Credit facility			141.0
Notes			156.2
Unamortized notes issuance costs			(0.5	)
Preferred stock			127.0
Unamortized preferred stock issuance costs			(1.5	)
Total leverage			422.2
Payable for securities purchased			0.1
Other liabilities			6.9
Deferred tax liability, net			36.1
Total liabilities			43.1
Net assets		$	1,092.1

 

 

 

The Company had 126,447,554 common shares outstanding as of April 30, 2021.

Long-term investments were comprised of Midstream Energy Company (83%), Utility Company (9%) and Renewable Infrastructure Company (8%).

The Company’s ten largest holdings by issuer at April 30, 2021 were:

			Amount (in millions)		Percent of Long-Term Investments*
1.	MPLX LP (Midstream Energy Company)		$196.4		13.3	%
2.	Enterprise Products Partners L.P. (Midstream Energy Company)		163.8		11.1	%
3.	Energy Transfer LP (Midstream Energy Company)		116.3		7.9	%
4.	Targa Resources Corp. (Midstream Energy Company)		109.6		7.4	%
5.	The Williams Companies, Inc. (Midstream Energy Company)		97.5		6.6	%
6.	Western Midstream Partners, LP (Midstream Energy Company)		84.8		5.7	%
7.	Plains All American Pipeline, L.P. ** (Midstream Energy Company)		74.6		5.0	%
8.	Magellan Midstream Partners, L.P. (Midstream Energy Company)		55.5		3.8	%
9.	ONEOK, Inc. (Midstream Energy Company)		55.4		3.7	%
10.	Shell Midstream Partners, L.P. (Midstream Energy Company)		47.8		3.2	%

________________________

* 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 April 30, 2021?

The net asset value per share of Kayne Anderson Energy Infrastructure Fund (KYN) is $8.64 as of April 30, 2021.

What were the asset coverage ratios for KYN under the 1940 Act?

As of April 30, 2021, KYN's asset coverage ratio was 510% for senior securities and 357% for total leverage.

How much were KYN's total assets reported on April 30, 2021?

Kayne Anderson Energy Infrastructure Fund reported total assets of $1.6 billion as of April 30, 2021.

What percentage of KYN's investments are in Midstream Energy companies?

As of April 30, 2021, 83% of KYN's investments were in Midstream Energy companies.