Kayne Anderson Midstream/Energy Fund Provides Unaudited Balance Sheet Information And Announces Its Net Asset Value And Asset Coverage Ratios At January 31, 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 January 31, 2013.

As of January 31, 2013, the Fund’s net assets were $692 million and its net asset value per share was $31.54. As of January 31, 2013, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 509% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 377%.
     

Kayne Anderson Midstream/Energy Fund, Inc.
Statement of Assets and Liabilities
January 31, 2013
(Unaudited)
      (in millions)   Per Share
Investments $ 953.0 $ 43.44
Cash 1.6 0.07
Deposits 0.5 0.02
Accrued income 6.7 0.31
Receivable for securities sold 0.4 0.02
Other assets   2.3   0.10
Total assets 964.5 43.96
 
Credit facility borrowings 20.0 0.91
Senior notes 165.0 7.52
Preferred stock   65.0   2.96
Total leverage   250.0   11.39
 
Payable for securities purchased 14.0 0.64
Other liabilities   8.5   0.39
Total liabilities 22.5 1.03
 
Net assets $ 692.0 $ 31.54
 
The Fund had 21.94 million common shares outstanding as of January 31, 2013.
 

As of January 31, 2013, equity and debt investments were 87% and 13%, respectively, of the Fund’s long-term investments of $953 million. Long-term investments were comprised of Midstream Companies (41%), MLP and MLP Affiliate (38%), Other Energy (7%), Other (1%) and Debt (13%).

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