KYN Kayne Anderson MLP Investment Co.

Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at January 31, 2017

HOUSTON--(BUSINESS WIRE)--

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 January 31, 2017.

As of January 31, 2017, the Company’s net assets were $2.3 billion, and its net asset value per share was $20.32. As of January 31, 2017, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 404% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 300%.

Kayne Anderson MLP Investment Company

Statement of Assets and Liabilities
January 31, 2017
(Unaudited)
  (in millions)   Per Share
Investments $

4,162.6

 

$

36.51

 

Cash and cash equivalents 1.4 0.01
Deposits 0.3 -
Accrued income 28.0 0.25
Receivable for securities sold 2.4 0.02
Income tax receivable 7.7 0.07
Other assets   8.2     0.07  
Total assets 4,210.6 36.93
 
Term loan 94.0 0.82
Senior notes 767.0 6.73
Preferred stock   300.0     2.63  
Total leverage   1,161.0     10.18  
 
Payable for securities purchased 10.5 0.09
Other liabilities 15.3 0.13
Deferred income tax liability   707.5     6.21  
Total liabilities 733.3 6.43
 
Net assets $ 2,316.3   $ 20.32  
 
The Company had 114,011,997 common shares outstanding as of January 31, 2017.
 

Long-term investments were comprised of Midstream MLP (94%), Midstream Company (4%) and Shipping MLP (2%).

The Company’s ten largest holdings by issuer at January 31, 2017 were:

       

Percent of

Units / Shares

Amount

Long-Term

(in thousands)

($ millions)

Investments

1. Enterprise Products Partners L.P. (Midstream MLP) 18,731 $530.7 12.7%
2. Williams Partners L.P. (Midstream MLP) 10,902 447.4 10.7%
3. Energy Transfer Partners, L.P. (Midstream MLP)* 10,691 407.9 9.8%
4. ONEOK Partners, L.P. (Midstream MLP)** 6,907 298.0 7.2%
5. Plains All American Pipeline, L.P. (Midstream MLP) 8,902 279.4 6.7%
6. MPLX LP (Midstream MLP)*** 6,833 265.9 6.4%
7. Western Gas Partners, LP (Midstream MLP)**** 3,841 235.8 5.7%
8. DCP Midstream Partners, LP (Midstream MLP) 5,897 229.2 5.5%
9. Buckeye Partners, L.P. (Midstream MLP) 2,748 191.6 4.6%
10. Magellan Midstream Partners, L.P. (Midstream MLP) 2,304 184.4 4.4%
_____________
* On November 21, 2016, Energy Transfer Partners, L.P. (“ETP”) and Sunoco Logistics Partners L.P. (“SXL”) announced an agreement to combine in a unit-for-unit merger. On a combined basis, ETP and SXL represent 12.2% of long-term investments as of January 31, 2017.
 
** On February 1, 2017, ONEOK, Inc. (“OKE”) and ONEOK Partners, L.P.