Kayne Anderson Energy Development Company Provides Unaudited Balance Sheet Information And Announces Its Net Asset Value And Asset Coverage Ratios At October 31, 2016

Kayne Anderson Energy Development Company (the "Company") (NYSE:KED) 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 October 31, 2016.

As of October 31, 2016, the Company's net assets were $198 million, and its net asset value per share was $18.46. As of October 31, 2016, the Company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 378% and the Company's asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 288%.
 

Kayne Anderson Energy Development Company
Statement of Assets and Liabilities
October 31, 2016
(Unaudited)
    (in millions)     Per Share
Investments $ 316.1 $ 29.53
Cash and cash equivalents 0.9 0.08
Accrued income 2.5 0.24
Receivable for securities sold 0.1 0.01
Income tax receivable 16.4 1.53
Other assets   1.0   0.09
Total assets 337.0 31.48
 
Term loan and credit facility 80.0 7.47
Preferred stock   25.0   2.34
Total leverage   105.0   9.81
 
Payable for securities purchased 1.1 0.10
Other liabilities 1.3 0.12
Deferred income tax liability   31.9   2.99
Total liabilities 34.3 3.21
 
Net assets $ 197.7 $ 18.46
 
The Company had 10,704,709 common shares outstanding as of October 31, 2016.
 

Long-term investments were comprised of Midstream MLP (87%), Midstream Company (6%), General Partner MLP (4%) and Shipping MLP (3%).

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