Kayne Anderson MLP Investment Company Completes Private Placement Of Senior Notes

Kayne Anderson MLP Investment Company (the “Company”) (NYSE: KYN) announced today that it has completed a private placement with institutional investors of $175 million of senior unsecured notes (“Senior Notes”). The table below sets forth the key terms:
Series           Amount ($ in millions)       Interest Rate       Maturity  
X           $ 14       2.46%       5/3/15
Y 20 2.91% 5/3/17
Z 15 3.39% 5/3/19
AA 15 3.56% 5/3/20
BB 35 3.77% 5/3/21
CC   76 3.95% 5/3/22
Total           $ 175                  

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.

If you liked this article you might like

3 Stocks Going Ex-Dividend Tomorrow: KMF, KYN, WERN

Dividend Watch: 3 Stocks Going Ex-Dividend Monday: KYN, CMC, GPS

Ex-Dividend Alert: 3 Stocks Going Ex-Dividend Wednesday: GNL, KYN, ROP

3 Stocks With Upcoming Ex-Dividend Dates: IAE, FPL, KYN

Tomorrow's Ex-Dividends To Watch: IRR, DX, KYN