Kayne Anderson NextGen Energy & Infrastructure Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at August 31, 2023
HOUSTON, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Kayne Anderson NextGen Energy & Infrastructure, 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 August 31, 2023.
As of August 31, 2023, the Fund’s net assets were $412.1 million and its net asset value per share was $8.73. As of August 31, 2023, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 746% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 469%.
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| Kayne Anderson NextGen Energy & Infrastructure, Inc. | ||||
| Statement of Assets and Liabilities | ||||
| August 31, 2023 | ||||
| (Unaudited) | ||||
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| (in millions) | ||
| Investments |
| $ | 511.4 |
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| Cash and cash equivalents |
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| 9.3 |
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| Receivable for securities sold |
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| 2.0 |
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| Accrued income |
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| 1.3 |
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| Other assets |
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| 1.0 |
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| Total assets |
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| 525.0 |
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| Credit facility |
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| 12.0 |
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| Notes |
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| 58.2 |
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| Unamortized notes issuance costs |
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| (0.4 | ) |
| Preferred stock |
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| 41.5 |
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| Unamortized preferred stock issuance costs |
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| (0.4 | ) |
| Total leverage |
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| 110.9 |
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| Other liabilities |
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| 2.0 |
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| Net assets |
| $ | 412.1 |
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The Fund had 47,197,462 common shares outstanding as of August 31, 2023.
Long-term investments were comprised of Midstream Company (51%), Natural Gas & LNG Infrastructure Company (25%), Renewable Infrastructure Company (11%), Utility Company (10%) and Other Energy (3%).
The Fund’s ten largest holdings by issuer at August 31, 2023 were:
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| Amount |
| Percent of | ||
| 1 | Enterprise Products Partners L.P. (Midstream Company) |
| $50.3 |
| 9.8 | % | |
| 2. | The Williams Companies, Inc. (Natural Gas & LNG Infrastructure Company) |
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| 45.2 |
| 8.8 | % |
| 3. | Targa Resources Corp. (Midstream Company) |
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| 41.0 |
| 8.0 | % |
| 4. | Cheniere Energy, Inc. (Natural Gas & LNG Infrastructure Company) |
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| 37.6 |
| 7.3 | % |
| 5. | Energy Transfer LP (Midstream Company) |
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| 37.3 |
| 7.3 | % |
| 6. | Plains GP Holdings, L.P. ** (Midstream Company) |
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| 34.1 |
| 6.7 | % |
| 7. | ONEOK, Inc. (Midstream Company) |
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| 23.7 |
| 4.6 | % |
| 8. | MPLX LP (Midstream Company) |
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| 23.5 |
| 4.6 | % |
| 9. | Atlantica Sustainable Infrastructure plc (Renewable Infrastructure Company) |
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| 18.2 |
| 3.6 | % |
| 10. | Sempra Energy (Utility Company) |
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| 17.4 |
| 3.4 | % |
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