Kayne Anderson Energy Infrastructure Fund Provides Unaudited Balance Sheet Information and Announces Its Net Asset Value and Asset Coverage Ratios at February 29, 2024
HOUSTON, March 04, 2024 (GLOBE NEWSWIRE) -- Kayne Anderson Energy Infrastructure Fund, Inc. (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 February 29, 2024.
As of February 29, 2024, the Company's net assets were $1.8 billion, and its net asset value per share was $10.69. As of February 29, 2024, the Company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 642% and the Company's asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 451%.
| STATEMENT OF ASSETS AND LIABILITIES | ||||
| FEBRUARY 29, 2024 // (UNAUDITED) | ||||
| (in millions) | ||||
| Investments | $ | 2,474.5 | ||
| Cash and cash equivalents | 16.3 | |||
| Receivable for securities sold | 16.9 | |||
| Accrued income | 2.1 | |||
| Current tax asset, net | 9.0 | |||
| Other assets | 1.3 | |||
| Total assets | 2,520.1 | |||
| Term loan | 50.0 | |||
| Notes | 311.7 | |||
| Unamortized notes issuance costs | (1.6 | ) | ||
| Preferred stock | 153.1 | |||
| Unamortized preferred stock issuance costs | (1.4 | ) | ||
| Total leverage | 511.8 | |||
| Payable for securities purchased | 33.9 | |||
| Other liabilities | 13.2 | |||
| Deferred tax liability, net | 152.5 | |||
| Total liabilities | 199.6 | |||
| Net assets | $ | 1,808.7 | ||
The Company had 169,126,038 common shares outstanding as of February 29, 2024.
Long-term investments were comprised of Midstream Energy Company (92%), Other Energy (4%), Utility Company (3%) and Renewable Infrastructure Company (1%).
| Amount | % Long Term | ||||||
| 1. | Enterprise Products Partners L.P. (Midstream Energy Company) | $268.8 | 10.9 | % | |||
| 2. | Energy Transfer LP (Midstream Energy Company) | 249.7 | 10.1 | % | |||
| 3. | MPLX LP (Midstream Energy Company) | 236.8 | 9.6 | % | |||
| 4. | The Williams Companies, Inc. (Midstream Energy Company) | 215.9 | 8.7 | % | |||
| 5. | ONEOK, Inc. (Midstream Energy Company) | 198.4 | 8.0 | % | |||
| 6. | Targa Resources Corp. (Midstream Energy Company) | 192.2 | 7.8 | % | |||
| 7. | Plains All American Pipeline, L.P. (Midstream Energy Company) | 142.9 | 5.8 | % | |||
| 8. | Cheniere Energy, Inc. (Midstream Energy Company) | 137.1 | 5.5 | % | |||
| 9. | Western Midstream Partners, LP (Midstream Energy Company) | 109.4 | 4.4 | % | |||
| 10. | Kinder Morgan, Inc. (Midstream Energy Company) | 103.4 | 4.2 | % | |||
| * | Includes ownership of common and preferred units. |
Portfolio holdings are subject to change without notice. The mention of specific securities is not a recommendation or solicitation for any person to buy, sell or hold any particular security. You can obtain a complete listing of holdings by viewing the Company's most recent quarterly or annual report.
