Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at September 30, 2017

HOUSTON--()--Kayne Anderson MLP Investment Company (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 September 30, 2017.

As of September 30, 2017, the Company’s net assets were $2.0 billion, and its net asset value per share was $17.36. As of September 30, 2017, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 405% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 291%.

 
Kayne Anderson MLP Investment Company
Statement of Assets and Liabilities
September 30, 2017
(Unaudited)
  (in millions)   Per Share
Investments $ 3,571.3 $ 31.17
Cash and cash equivalents 28.3 0.25
Deposits 0.2 0.00
Accrued income 0.7 0.01
Receivable for securities sold 13.2 0.11
Other assets   1.5     0.01  
Total assets 3,615.2 31.55
 
Notes 747.0 6.52
Unamortized notes issuance costs (2.9 ) (0.03 )
Preferred stock 292.0 2.55
Unamortized preferred stock issuance costs   (2.4 )   (0.02 )
Total leverage   1,033.7     9.02  
 
Payable for securities purchased 10.7 0.09
Other liabilities 13.1 0.12
Deferred tax liability   568.4     4.96  
Total liabilities 592.2 5.17
 
Net assets $ 1,989.3   $ 17.36  

The Company had 114,575,715 common shares outstanding as of September 30, 2017.

Long-term investments were comprised of Midstream MLP (85%), Midstream Company (12%), Shipping MLP (2%) and General Partner MLP (1%).

The Company’s ten largest holdings by issuer at September 30, 2017 were:

   

Units / Shares
(in thousands)

 

Amount
($ millions)

 

Percent of
Long-Term
Investments

1. Enterprise Products Partners L.P. (Midstream MLP) 19,680 $513.1 14.4%
2. Energy Transfer Partners, L.P. (Midstream MLP) 19,120 349.7 9.8%
3. Williams Partners L.P. (Midstream MLP) 8,421 327.6 9.2%
4. MPLX LP (Midstream MLP)* 7,009 254.1 7.1%
5. ONEOK, Inc. (Midstream Company) 4,433 245.6 6.9%
6. Western Gas Partners, LP (Midstream MLP) 3,841 197.0 5.5%
7. Plains All American Pipeline, L.P. (Midstream MLP) 8,962 189.9 5.3%
8. DCP Midstream, LP (Midstream MLP) 4,963 171.9 4.8%
9. Buckeye Partners, L.P. (Midstream MLP) 2,882 164.3 4.6%
10. Targa Resources Corp. (Midstream Company) 3,137 148.4 4.2%
_____________

* Includes 4,753 common units ($166.4 million) and 2,256 preferred units ($87.7 million).

Kayne Anderson MLP Investment Company is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, whose common stock is traded on the NYSE. The Company's investment objective is to obtain a high after-tax total return by investing at least 85% of its total assets in energy-related master limited partnerships and their affiliates (collectively, “MLPs”), and in other companies that, as their principal business, operate assets used in the gathering, transporting, processing, storing, refining, distributing, mining or marketing natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the Fund’s historical experience and its present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; MLP industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in the Fund’s filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund’s investment objective will be attained.

Contacts

KA Fund Advisors, LLC
Monique Vo, 877-657-3863
http://www.kaynefunds.com/

Contacts

KA Fund Advisors, LLC
Monique Vo, 877-657-3863
http://www.kaynefunds.com/