Kayne Anderson Energy Development Company Announces Results For The Quarter Ended May 31, 2012

Interest Expense – Interest expense is estimated to be approximately $0.46 million per quarter based on $82.5 million borrowed under the Company’s credit facility, assuming a 30-day LIBOR rate of 0.24% and a spread of 2.00%.

Based on the foregoing assumptions, the Company is expected to generate net distributable income (“NDI”) per share of $0.44 to $0.45 in the third quarter of fiscal 2012.

CONFERENCE CALL

The Company will host a conference call at 4 p.m. Central time, on July 24, 2012 to discuss its results. All interested parties are welcome to participate. You can access the conference call by dialing [phone] approximately 5-10 minutes prior to the call. International callers should dial [phone]. All callers should reference "Conference ID # 97250332". For the convenience of the Company’s stockholders, an archived replay of the call will be available on the Company’s website ( www.kaynefunds.com/ked/webcasts-and-presentations/).

AVAILABLE INFORMATION

The Company’s filings with the Securities and Exchange Commission, press releases and other financial information are available on the Company’s website at www.kaynefunds.com.

	KAYNE ANDERSON ENERGY DEVELOPMENT COMPANY STATEMENT OF ASSETS AND LIABILITIES MAY 31, 2012 (amounts in 000’s, except share and per share amounts) (UNAUDITED)
	ASSETS
	Investments, at fair value:
	Non-affiliated (Cost — $184,577)				$	200,760
	Affiliated (Cost — $127,567)					120,679
	Total investments (Cost — $312,144)					321,439
	Cash					2,024
	Income tax receivable					332
	Receivable for securities sold					1,178
	Interest, dividends and distributions receivable					833
	Other receivable					5,030
	Debt issuance costs, prepaid expenses and other assets					1,042
	Total Assets					331,878
	LIABILITIES
	Credit facility					79,000
	Deferred income tax liability					15,397
	Payable for securities purchased					157
	Investment management fee payable					1,501
	Accrued directors’ fees and expenses					72
	Accrued expenses and other liabilities					511
	Total Liabilities					96,638
	NET ASSETS				$	235,240
	NET ASSETS CONSIST OF
	Common stock, $0.001 par value (200,000,000 shares authorized; 10,372,420 shares issued and outstanding)				$	10
	Paid-in capital					200,117
	Accumulated net investment loss, net of income taxes, less dividends					(28,845	)
	Accumulated net realized gains on investments, net of income taxes					58,453
	Net unrealized gains on investments, net of income taxes					5,505
	NET ASSETS				$	235,240
	NET ASSET VALUE PER SHARE				$	22.68

	KAYNE ANDERSON ENERGY DEVELOPMENT COMPANY STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED MAY 31, 2012 (amounts in 000’s) (UNAUDITED)
	INVESTMENT INCOME
	Income
	Dividends and Distributions:
	Non-affiliated investments						$ 2,545
	Affiliated investments						2,329
	Total dividends and distributions						4,874
	Return of capital						(3,836)
	Net dividends and distributions						1,038
	Interest and other income — non-affiliated investments						1,051
	Interest — affiliated investments						425
	Total investment income						2,514
	Expenses
	Investment management fees						1,501
	Professional fees						134
	Directors’ fees and expenses						76
	Insurance						26
	Administration fees						22
	Custodian fees						11
	Other expenses						65
	Total expenses — before interest expense						1,835
	Interest expense						602
	Total expenses						2,437
	Net Investment Income — Before Income Taxes						77
	Deferred income tax expense						(33)
	Net Investment Income						44
	REALIZED AND UNREALIZED GAINS (LOSSES)
	Net Realized Gains (Losses)
	Investments — non-affiliated						4,676
	Investments — affiliated						(9)
	Deferred income tax expense						(1,757)
	Net Realized Gains						2,910
	Net Change in Unrealized Gains (Losses)
	Investments — non-affiliated						(22,369)
	Investments — affiliated						(6,536)
	Deferred income tax benefit						10,697
	Net Change in Unrealized Losses						(18,208)
	Net Realized and Unrealized Losses						(15,298)
	NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS						$ (15,254)

The Company is a non-diversified, closed-end investment company that elected to be treated as a business development company under the Investment Company Act of 1940. The Company's investment objective is to generate both current income and capital appreciation primarily through equity and debt investments. The Company will seek to achieve this objective by investing at least 80% of its net assets together with the proceeds of any borrowings (its "total assets") in securities of companies that derive the majority of their revenue from activities in the energy industry, including: (a) Midstream Energy Companies, which are businesses that operate assets used to gather, transport, process, treat, terminal and store natural gas, natural gas liquids, propane, crude oil or refined petroleum products; (b) Upstream Energy Companies, which are businesses engaged in the exploration, extraction and production of natural resources, including natural gas, natural gas liquids and crude oil, from onshore and offshore geological reservoirs; and (c) Other Energy Companies, which are businesses engaged in owning, leasing, managing, producing, processing and sale of coal and coal reserves; the marine transportation of crude oil, refined petroleum products, liquefied natural gas, as well as other energy-related natural resources using tank vessels and bulk carriers; and refining, marketing and distributing refined energy products, such as motor gasoline and propane to retail customers and industrial end-users.

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 materially differ from the Company's historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; energy industry risk; commodity pricing risk; leverage risk; valuation risk; non-diversification risk; interest rate risk; tax risk; and other risks discussed in the Company'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 Company 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.

« First ‹ Previous 1 2 3 4 5 Next › Last »