(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 August 31, 2009.
As of August 31, 2009, the Company's net assets were $924 million and its net asset value per share was $18.02. As of August 31, 2009, the Company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 427% and the Company's asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 343%.
Kayne Anderson MLP Investment Company Balance Sheet August 31, 2009 (Unaudited) (in millions) Investments $ 1,349.4 Repurchase agreements and cash 1.7 Deposits 0.1 Accrued income 0.7 Receivable for securities sold 0.3 Other assets 2.3 Total assets 1,354.5 Short-term borrowings 2.0 Senior notes 304.0 Preferred stock 75.0 Total leverage 381.0 Payable for securities purchased 19.5 Deferred tax liability 19.3 Other liabilities 10.6 Total liabilities 49.4 Net assets $ 924.1 51.3 million common shares currently outstanding -------------------------------------------------------------------------------
Long-term investments were comprised of Midstream MLPs (64%), General Partner MLPs (14%), MLP Affiliates (8%), Propane MLPs (7%), Shipping (4%), Upstream MLPs (2%), and Coal and Other MLPs (1%).
