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 February 1, 2016 - 7:51 PM EST
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Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at January 31, 2016

Kayne Anderson MLP Investment Company (the “Company”) (NYSE: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 January 31, 2016.

As of January 31, 2016, the Company’s net assets were $1.6 billion, and its net asset value per share was $14.49. As of January 31, 2016, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 353% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 235%.

 

Kayne Anderson MLP Investment Company

Statement of Assets and Liabilities
January 31, 2016
(Unaudited)
 
  (in millions)   Per Share
Investments $ 2,859.3 $ 25.38
Cash 81.7 0.73
Deposits 0.2 -
Accrued income 31.9 0.28
Receivable for securities sold 21.4 0.19
Income tax receivable 12.9 0.11
Other assets   9.8   0.08
Total assets 3,017.2 26.77
 
Senior notes 805.0 7.14
Preferred stock   404.0   3.59
Total leverage   1,209.0   10.73
 
Other liabilities 15.0 0.12
Deferred income tax liability   160.6   1.43
Total liabilities 175.6 1.55
 
Net assets $ 1,632.6 $ 14.49
 
The Fund had 112,644,583 common shares outstanding as of January 31, 2016.
 

Long-term investments were comprised of Midstream MLP (93%), Midstream Company (2%), General Partner MLP (2%), Shipping MLP (2%) and Other (1%).

The Company’s ten largest holdings by issuer at January 31, 2016 were:

   

Units / Shares
(in thousands)

 

Amount
($ millions)

 

Percent of
Long-Term
Investments

1. Enterprise Products Partners L.P. (Midstream MLP) 19,960 $477.3 16.7%
2. Energy Transfer Partners, L.P. (Midstream MLP) 10,213 303.7 10.6%
3. Williams Partners L.P. (Midstream MLP) * 10,243 225.5 7.9%
4. ONEOK Partners, L.P. (Midstream MLP) 6,551 179.1 6.3%
5. Plains All American Pipeline, L.P. (Midstream MLP) 8,373 176.8 6.2%
6. Magellan Midstream Partners, L.P. (Midstream MLP) 2,304 148.0 5.2%
7. Buckeye Partners, L.P. (Midstream MLP) 2,498 145.5 5.1%
8. MPLX LP (Midstream MLP) 4,655 143.2 5.0%
9. Western Gas Partners, LP (Midstream MLP) 3,724 121.7 4.3%
10. DCP Midstream Partners, LP (Midstream MLP) 6,413 120.4 4.2%
_____________

*On September 28, 2015, Energy Transfer Equity, L.P. (“ETE”) announced an agreement to combine with The Williams Companies, Inc. (“WMB”). WMB is the general partner of Williams Partners L.P. (“WPZ”). As of January 31, 2016, the Company owned 1,410 units ($12.2 million) of ETE and no shares of WMB.

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 Fund’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 Fund’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 Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund’s investment objective will be attained.

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


Source: Business Wire (February 1, 2016 - 7:51 PM EST)

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