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Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information And Announces Its Net Asset Value And Asset Coverage Ratios At February 29, 2012

Stocks in this article: KYN

Kayne Anderson MLP Investment Company (the “Company”) (NYSE: KYN) today provided a summary unaudited balance sheet and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the “1940 Act”) as of February 29, 2012.

As of February 29, 2012, the Company’s net assets were $2.5 billion, and its net asset value per share was $30.07. As of February 29, 2012, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 423% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 324%.

           
Kayne Anderson MLP Investment Company
Balance Sheet
February 29, 2012
(Unaudited)
(in millions) Per Share
Investments $ 4,165.4 $ 50.26
Cash 43.1 0.52
Deposits 0.4
Accrued income 2.7 0.03
Receivable for common stock offering 226.9 2.74
Receivable for securities sold 1.3 0.02
Other assets   8.8   0.11
Total assets 4,448.6 53.68
 
Credit facility borrowings 76.0 0.92
Senior notes 775.0 9.35
Preferred stock   260.0   3.14
Total leverage   1,111.0   13.41
 
Payable for securities purchased 175.9 2.12
Deferred tax liability 645.2 7.79
Other liabilities   24.4   0.29
Total liabilities 845.5 10.20
 
Net assets $ 2,492.1 $ 30.07
 
The Company had 82.87 million common shares outstanding as of February 29, 2012.
 

Long-term investments were comprised of Midstream MLP (67%), MLP Affiliate (9%), General Partner MLP (7%), Shipping MLP (5%), Propane MLP (2%), Upstream MLP & Income Trust (3%) and Coal MLP & Other (7%).

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