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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 June 30, 2013

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 June 30, 2013.

As of June 30, 2013, the Fund’s net assets were $739 million and its net asset value per share was $33.62. As of June 30, 2013, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 420% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 334%.

Kayne Anderson Midstream/Energy Fund, Inc.

 
Statement of Assets and Liabilities
June 30, 2013
(Unaudited)
        (in millions)       Per Share
Investments $ 1,056.8 $ 48.10
Cash 1.6 0.08
Deposits 0.3 0.01
Accrued income 2.5 0.11
Receivable for securities sold 7.3 0.33
Other assets   2.6   0.12
Total assets 1,071.1 48.75
 
Credit facility borrowings 46.0 2.09
Senior notes 205.0 9.33
Preferred stock   65.0   2.96
Total leverage   316.0   14.38
 
Payable for securities purchased 11.4 0.52
Other liabilities   5.1   0.23
Total liabilities 16.5 0.75
 
Net assets $ 738.6 $ 33.62
 
The Fund had 21.97 million common shares outstanding as of June 30, 2013.
 

As of June 30, 2013, equity and debt investments were 88% and 12%, respectively, of the Fund’s long-term investments of $1.1 billion. Long-term investments were comprised of Midstream Companies (43%), MLP and MLP Affiliate (40%), Other Energy (4%), Other (1%) and Debt (12%).

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