Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information and Announces its

Before you go, we thought you'd like these...
Before you go close icon

Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at December 31, 2012

HOUSTON--(BUSINESS WIRE)-- Kayne Anderson MLP Investment Company (the "Company") (NYS: KYN) 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 December 31, 2012.

As of December 31, 2012, the Company's net assets were $2.4 billion, and its net asset value per share was $27.21. As of December 31, 2012, the Company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 391% and the Company's asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 281%.

  Kayne Anderson MLP Investment Company
Statement of Assets and Liabilities
December 31, 2012
(Unaudited)
   

(in millions) 

  

Per Share 

Investments$4,398.3$49.74
Cash2.60.03
Deposits0.3-
Accrued income0.1-
Receivable for securities sold0.2-
Other assets 10.5 0.12
Total assets4,412.049.89
 
Credit facility borrowings66.00.75
Senior notes890.010.06
Preferred stock 374.0 4.23
Total leverage 1,330.0 15.04
 
Distribution payable48.60.55
Payable for securities purchased0.50.01
Deferred tax liability616.96.97
Other liabilities 9.5 0.11
Total liabilities675.57.64
 
Net assets$2,406.5$27.21
 
The Company had 88.43 million common shares outstanding as of December 31, 2012.
 

Long-term investments were comprised of Midstream MLP (70%), MLP Affiliate (8%), General Partner MLP (7%), Shipping MLP (4%), Upstream MLP & Income Trust (3%), Coal & Other MLP (3%) and Other (5%).

The Company's ten largest holdings by issuer at December 31, 2012 were:

     

Units
(in thousands)

  

Amount
($ millions)

  

Percent of
Long-Term
Investments

1.Enterprise Products Partners L.P. (Midstream MLP)7,674384.38.7%
2.Kinder Morgan Management, LLC (MLP Affiliate)4,377330.37.5%
3.Plains All American Pipeline, L.P. (Midstream MLP)6,852310.07.0%
4.MarkWest Energy Partners, L.P. (Midstream MLP)4,852247.55.6%
5.Energy Transfer Equity, L.P. (General Partner MLP)4,457202.74.6%
6.El Paso Pipeline Partners, L.P. (Midstream MLP)5,284195.34.4%
7.Williams Partners L.P. (Midstream MLP)3,868188.24.3%
8.Regency Energy Partners LP (Midstream MLP)7,768168.43.8%
9.Enbridge Energy Partners, L.P. (Midstream MLP)5,670158.23.6%
10.ONEOK Partners, L.P. (Midstream MLP)2,868154.93.5%
 

Kayne Anderson MLP Investment Company is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, whose common stock is traded on the NYSE. The Company's investment objective is to obtain a high after-tax total return by investing at least 85% of its total assets in energy-related master limited partnerships and their affiliates (collectively, "MLPs"), and in other companies that, as their principal business, operate assets used in the gathering, transporting, processing, storing, refining, distributing, mining or marketing natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the Company's historical experience and its present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; MLP industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in the Company's filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company's investment objectives will be attained.

anImage


KA Fund Advisors, LLC
Monique Vo, 877-657-3863
http://www.kaynefunds.com

KEYWORDS:   United States  North America  Texas

INDUSTRY KEYWORDS:

The article Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at December 31, 2012 originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners