Kayne Anderson MLP Investment Company Announces $30 Million Redemption of its Series E MRP Shares
Kayne Anderson MLP Investment Company (the “Company”) (NYSE:KYN)
announced that it will redeem 1,200,000 shares of its Series E Mandatory
Redeemable Preferred Shares (“Series E MRP Shares”) with an aggregate
liquidation preference of $30 million on January 15, 2016. Following the
redemption, 1,200,000 Series E MRP Shares will remain outstanding.
Holders of record as of December 15, 2015 of the Series E MRP Shares
(including the shares being redeemed) will receive the regular monthly
dividend payment amount on January 4, 2016. On January 15, 2016, holders
will receive the liquidation preference per share of $25.00, plus
accumulated but unpaid dividends. The paying agent is American Stock
Transfer & Trust Company, which is the Company’s transfer agent.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151216006425/en/
Copyright Business Wire 2015
Source: Business Wire
(December 16, 2015 - 6:24 PM EST)
News by QuoteMedia