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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Monday, January 25, 5:11 PM

Slide #395. Kayne Anderson MLP Investment Company Preferred Stock Offering

Company: Kayne Anderson MLP Investment Company (NYSE:KYN)
Date announced: 9/9/2013
Shares Offered: 2,000,000
Price Per Share: $25
Preferred Stock Offering Details: Kayne Anderson MLP Investment Company (the "Company") (NYSE:KYN) announced the pricing of a public offering of preferred stock. The Company agreed to sell 2,000,000 shares of Series G Mandatory Redeemable Preferred Shares ("Series G MRP Shares") at a price of $25.00 per share. The Series G MRP Shares will pay cash dividends on a monthly basis at a rate of 4.60% per annum and will have a mandatory redemption date of October 1, 2021. The Company plans to use the net proceeds from the offering of approximately $48.7 million to make investments in portfolio companies in accordance with its investment objective and policies, to repay indebtedness and for general corporate purposes. The offering is scheduled to close on September 16, 2013.

Kayne Anderson MLP/Midstream Investment is a non-diversified closed-end management investment company. Co.'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 (MLPs) and in other companies that operate assets used in the gathering, transporting, processing, storing, refining, distributing, mining or marketing of natural gas, natural gas liquids, crude oil, refined petroleum products or coal (collectively with MLPs, Midstream Energy Companies). Co.'s investments are principally in equity securities issued by MLPs and other Midstream Energy Companies.

Preferreds: KYN.PRE, KYN.PRD, KYN.PRF, KYN.PRG


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Name:  Kayne Anderson Energy Infrastructure Fund Inc
Website:  www.kaynefunds.com
Sector:  Investment Companies & Venture Capital
 

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