HOUSTON, Oct. 01, 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 September 30, 2024.
As of September 30, 2024, the Company's net assets were $2.1 billion, and its net asset value per share was $12.37. As of September 30, 2024, the Company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 632% and the Company's asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 456%.
| STATEMENT OF ASSETS AND LIABILITIES | ||||
| SEPTEMBER 30, 2024 // (UNAUDITED) | ||||
| (in millions) | ||||
| Investments | $ | 2,957.6 | ||
| Cash and cash equivalents | 15.8 | |||
| Accrued income | 2.2 | |||
| Other assets | 0.6 | |||
| Total assets | 2,976.2 | |||
| Notes | 424.4 | |||
| Unamortized notes issuance costs | (2.7 | ) | ||
| Preferred stock | 163.1 | |||
| Unamortized preferred stock issuance costs | (1.4 | ) | ||
| Total leverage | 583.4 | |||
| Distribution payable | 40.6 | |||
| Other liabilities | 7.5 | |||
| Current tax liability, net | 4.4 | |||
| Deferred tax liability, net | 247.5 | |||
| Total liabilities | 300.0 | |||
| Net assets | $ | 2,092.8 | ||
Long-term investments were comprised of Midstream Energy Companies (94%), Utility Companies (5%) and Other Energy (1%).
The Company's ten largest holdings by issuer at September 30, 2024 were:
| Amount (in millions)* | %
Long Term Investments | ||||||
| 1. | The Williams Companies, Inc. (Midstream Energy Company) | $ | 274.3 | 9.3 | % | ||
| 2. | MPLX LP (Midstream Energy Company) | 273.9 | 9.3 | % | |||
| 3. | Energy Transfer LP (Midstream Energy Company) | 273.8 | 9.3 | % | |||
| 4. | Enterprise Products Partners L.P. (Midstream Energy Company) | 260.7 | 8.8 | % | |||
| 5. | ONEOK, Inc. (Midstream Energy Company) | 218.1 | 7.4 | % | |||
| 6. | Targa Resources Corp. (Midstream Energy Company) | 204.4 | 6.9 | % | |||
| 7. | Cheniere Energy, Inc. (Midstream Energy Company) | 182.8 | 6.2 | % | |||
| 8. | Western Midstream Partners, LP (Midstream Energy Company) | 167.1 | 5.6 | % | |||
| 9. | Kinder Morgan, Inc. (Midstream Energy Company) | 166.7 | 5.6 | % | |||
| 10. | Pembina Pipeline Corporation (Midstream Energy Company) | 130.6 | 4.4 | % | |||
| * | 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.
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. The company's investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies. See Glossary of Key Terms in the Company's most recent quarterly report for a description of these investment categories and the meaning of capitalized terms.
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer or sale is not permitted. Nothing contained in this press release is intended to recommend any investment policy or investment strategy or consider any investor's specific objectives or circumstances. Before investing, please consult with your investment, tax, or legal adviser regarding your individual circumstances.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements reflecting assumptions, expectations, projections, intentions, or beliefs about future events. These and other statements not relating strictly to historical or current facts constitute forward-looking statements as defined under the U.S. federal securities laws. Forward-looking statements involve a variety of risks and uncertainties. These risks include but are not limited to changes in economic and political conditions; regulatory and legal changes; energy industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the Company's filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual events could differ materially from these statements or our present expectations or projections. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Kayne Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company's investment objectives will be attained.
Contact investor relations at 877-657-3863 or [email protected].
