(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 June 30, 2009.
As of June 30, 2009, the Company's net assets were $756 million and its net asset value per share was $16.86. As of June 30, 2009, the Company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 373% and the Company's asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 299%.
Kayne Anderson MLP Investment Company Balance Sheet June 30, 2009 (Unaudited) (in millions) Investments $ 1,080.1 Repurchase agreements and cash 11.5 Deposits 21.8 Net deferred tax asset((1)) 18.7 Accrued income 1.7 Receivable for securities sold 8.7 Other assets 2.7 Total assets 1,145.2 Short-term borrowings - Senior notes 304.0 Preferred stock 75.0 Total leverage 379.0 Payable for securities purchased 7.6 Other liabilities 3.1 Total liabilities 10.7 Net assets $ 755.5 44.8 million common shares currently outstanding (1) The Company had no valuation allowance at June 30, 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 (1%).
