Kayne Anderson MLP Investment Company (the “Company”) (NYSE: KYN) announced today that it reached a conditional agreement with institutional investors relating to a private placement of $175 million of senior unsecured notes. The table below sets forth the key terms:
|Series||Amount ($ in millions)||Rate||Maturity|
|X||$ 14||2.46%||3 years|
Net proceeds from the offering will be used to repay borrowings under the Company’s revolving credit facility, to refinance the Series I senior notes that mature in June 2012 ($60 million principal amount), to make new portfolio investments and for general corporate purposes. Closing of the private placement is scheduled to occur in early May 2012 and is subject to investor due diligence, legal documentation and other standard closing conditions.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV