Kayne Anderson NextGen Energy & Infrastructure Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at September 30, 2023
HOUSTON, Oct. 02, 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 September 30, 2023.
As of September 30, 2023, the Fund’s net assets were $389.9 million and its net asset value per share was $8.26. As of September 30, 2023, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 804% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 480%.
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| Kayne Anderson NextGen Energy & Infrastructure, Inc. | ||||
| Statement of Assets and Liabilities | ||||
| September 30, 2023 | ||||
| (Unaudited) | ||||
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| (in millions) | ||
| Investments |
| $ | 495.1 |
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| Cash and cash equivalents |
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| 1.4 |
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| Receivable for securities sold |
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| 3.1 |
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| Accrued income |
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| 0.4 |
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| Other assets |
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| 1.0 |
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| Total assets |
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| 501.0 |
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| Credit facility |
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| 3.0 |
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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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| 101.9 |
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| Distribution payable |
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| 7.6 |
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| Other liabilities |
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| 1.6 |
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| Total liabilities |
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| 9.2 |
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| Net assets |
| $ | 389.9 |
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The Fund had 47,197,462 common shares outstanding as of September 30, 2023.
Long-term investments were comprised of Midstream Company (54%), Natural Gas & LNG Infrastructure Company (28%), Renewable Infrastructure Company (8%), Utility Company (7%) and Other Energy (3%).
The Fund’s ten largest holdings by issuer at September 30, 2023 were:
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| Amount |
| Percent of | ||
| 1 | Enterprise Products Partners L.P. (Midstream Company) |
| $51.3 |
| 10.4 | % | |
| 2. | The Williams Companies, Inc. (Natural Gas & LNG Infrastructure Company) |
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| 41.6 |
| 8.4 | % |
| 3. | Energy Transfer LP (Midstream Company) |
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| 38.8 |
| 7.8 | % |
| 4. | Targa Resources Corp. (Midstream Company) |
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| 38.7 |
| 7.8 | % |
| 5. | Cheniere Energy, Inc. (Natural Gas & LNG Infrastructure Company) |
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| 38.2 |
| 7.7 | % |
| 6. | Plains GP Holdings, L.P. ** (Midstream Company) |
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| 31.7 |
| 6.4 | % |
| 7. | ONEOK, Inc. (Midstream Company) |
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| 30.3 |
| 6.1 | % |
| 8. | MPLX LP (Midstream Company) |
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| 23.9 |
| 4.8 | % |
| 9. | Sempra Energy (Utility Company) |
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| 16.9 |
| 3.4 | % |
| 10. | Pembina Pipeline Corporation (Midstream Company) |
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| 16.8 |
| 3.4 | % |
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