(Source: Business Wire)
Kayne Anderson MLP Investment Company (the "Company") (NYSE: KYN) today provided a summary unaudited balance sheet and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the "1940 Act") as of May 31, 2009.
As of May 31, 2009, the Company's net assets were $764 million and its net asset value per share was $17.04. As of May 31, 2009, the Company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 376% and the Company's asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 302%.
Kayne Anderson MLP Investment Company Balance Sheet May 31, 2009 (Unaudited) (in millions) Investments $ 1,103.7 Repurchase agreements and cash 38.5 Deposits 1.1 Net deferred tax asset((1)) 13.9 Accrued income 1.4 Receivable for securities sold 3.6 Other assets 2.4 Total assets 1,164.6 Short-term borrowings - Senior notes 304.0 Preferred stock 75.0 Total leverage 379.0 Payable for securities purchased 8.3 Other liabilities 13.6 Total liabilities 21.9 Net assets $ 763.7 44.8 million common shares currently outstanding (1) The Company had no valuation allowance at May 31, 2009 -------------------------------------------------------------------------------
Long-term investments were comprised of Midstream MLPs (64%), General Partner MLPs (13%), MLP Affiliates (10%), Propane MLPs (7%), Shipping MLPs (3%), Coal MLPs (1%), Upstream MLPs (1%) and Other MLPs (1%).
