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Kayne Anderson Midstream/Energy Fund Provides Unaudited Balance Sheet Information And Announces Its Net Asset Value And Asset Coverage Ratios At November 30, 2012

Stocks in this article: KMF

Kayne Anderson Midstream/Energy Fund, Inc. (the “Fund”) (NYSE: KMF) 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 November 30, 2012.

As of November 30, 2012, the Fund’s net assets were $635 million and its net asset value per share was $29.01. As of November 30, 2012, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 429% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 328%.

   

Kayne Anderson Midstream/Energy Fund, Inc.

Statement of Assets and Liabilities
November 30, 2012
(Unaudited)
             
(in millions)

Per Share 

Investments $ 907.0 $ 41.43
Cash 4.0 0.18
Deposits 0.3 0.01
Accrued income 3.5 0.16
Receivable for securities sold 3.3 0.15
Other assets   2.4   0.11
Total assets 920.5 42.04
 
Credit facility borrowings 48.0 2.19
Senior notes 165.0 7.54
Preferred stock   65.0   2.97
Total leverage   278.0   12.70
 
Payable for securities purchased 0.4 0.02
Other liabilities   6.9   0.31
Total liabilities 7.3 0.33
 
Net assets $ 635.2 $ 29.01
 
The Fund had 21.90 million common shares outstanding as of November 30, 2012.
 

As of November 30, 2012, equity and debt investments were 85% and 15%, respectively, of the Fund’s long-term investments of $907 million. Long-term investments were comprised of Midstream Companies (42%), MLP and MLP Affiliate (36%), Other Energy (6%), Other (1%) and Debt (15%).

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