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 $235 million of senior unsecured notes. The table below sets forth the key terms:
|Series||Amount ($ in millions)||Rate||Maturity|
Net proceeds from the offering will be used to make new portfolio investments ($110 million), to refinance the Series K senior notes ($125 million principal amount) which mature in June 2013, and for general corporate purposes. The private placement will close in April 2013, and there will be two fundings in connection with the transaction: $110 million will fund in April 2013, and $125 million will fund in June 2013. The closing is subject to investor due diligence, legal documentation and other standard closing conditions.