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

Rhea-AI Summary

As of March 31, 2021, Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) reported net assets of $1.0 billion and a net asset value per share of $8.16. The asset coverage ratio for senior securities was 492%, while the ratio for total leverage stood at 344%. Total assets reached $1.475 billion, with significant investments in midstream energy (82%), utility (10%), and renewable infrastructure (8%). The company holds 126,447,554 common shares outstanding, with MPLX LP being the largest investment at $175 million, representing 12.5% of long-term investments.

Positive

• Net assets of $1.0 billion indicate strong financial health.
• Net asset value per share at $8.16 is a solid valuation.
• High asset coverage ratios (492% for senior securities, 344% for total leverage) suggest strong risk management.
• Diverse investments in energy infrastructure, utility, and renewable sectors.

Negative

• None.

HOUSTON, April 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 March 31, 2021.

As of March 31, 2021, the Company’s net assets were $1.0 billion, and its net asset value per share was $8.16. As of March 31, 2021, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 492% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 344%.

Kayne Anderson Energy Infrastructure Fund, Inc.
Statement of Assets and Liabilities
March 31, 2021
(Unaudited)
		(in millions)
Investments		$	1,405.2
Cash and cash equivalents			2.0
Accrued income			1.1
Current tax receivable, net			65.9
Other assets			1.3
Total assets			1,475.5
Credit facility			134.0
Notes			161.5
Unamortized notes issuance costs			(0.5	)
Preferred stock			127.0
Unamortized preferred stock issuance costs			(1.5	)
Total leverage			420.5
Other liabilities			4.4
Deferred tax liability, net			18.6
Total liabilities			23.0
Net assets		$	1,032.0

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

Long-term investments were comprised of Midstream Energy Company (82%), Utility Company (10%) and Renewable Infrastructure Company (8%).

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

			Amount (in millions)			Percent of Long-Term Investments1
1.	MPLX LP (Midstream Energy Company)		$175.0			12.5	%
2.	Enterprise Products Partners L.P. (Midstream Energy Company)			157.7		11.2	%
3.	Energy Transfer LP (Midstream Energy Company)			103.7		7.4	%
4.	Targa Resources Corp. (Midstream Energy Company)			100.4		7.1	%
5.	The Williams Companies, Inc. (Midstream Energy Company)			94.8		6.7	%
6.	Western Midstream Partners, LP (Midstream Energy Company)			80.2		5.7	%
7.	Plains All American Pipeline, L.P. ** (Midstream Energy Company)			74.8		5.3	%
8.	ONEOK, Inc. (Midstream Energy Company)			53.6		3.8	%
9.	Magellan Midstream Partners, L.P. (Midstream Energy Company)			51.5		3.7	%
10.	TC Energy Corporation (Midstream Energy Company)			43.5		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.

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 of Kayne Anderson Energy Infrastructure Fund (KYN) as of March 31, 2021?

The net asset value per share of Kayne Anderson Energy Infrastructure Fund (KYN) as of March 31, 2021, is $8.16.

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

As of March 31, 2021, Kayne Anderson Energy Infrastructure Fund (KYN) reported total assets of $1.475 billion.

How many common shares are outstanding for KYN?

Kayne Anderson Energy Infrastructure Fund (KYN) had 126,447,554 common shares outstanding as of March 31, 2021.

What is the asset coverage ratio for senior securities for KYN?

The asset coverage ratio for senior securities representing indebtedness for Kayne Anderson Energy Infrastructure Fund (KYN) is 492% as of March 31, 2021.

Who are the top investments of KYN as of March 31, 2021?

KYN's top investment as of March 31, 2021, is MPLX LP, with an investment amount of $175 million, representing 12.5% of long-term investments.