(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 September 30, 2009.
As of September 30, 2009, the Company's net assets were $979 million and
its net asset value per share was $19.09. As of September 30, 2009, the
Company's asset coverage ratio under the 1940 Act with respect to senior
securities representing indebtedness was 396% and the Company's asset
coverage ratio under the 1940 Act with respect to total leverage (debt
and preferred stock) was 327%.
Kayne Anderson MLP Investment Company
Balance Sheet
September 30, 2009
(Unaudited)
(in millions)
Investments $ 1,443.5
Repurchase agreements and cash 4.1
Deposits 24.6
Accrued income 0.7
Receivable for securities sold 1.3
Other assets 2.2
Total assets 1,476.4
Short-term borrowings 52.0
Senior notes 304.0
Preferred stock 75.0
Total leverage 431.0
Payable for securities purchased 6.1
Deferred tax liability 51.7
Other liabilities 8.4
Total liabilities 66.2
Net assets $ 979.2
51.3 million common shares currently outstanding
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Long-term investments were comprised of Midstream MLPs (70%), General
Partner MLPs (8%), MLP Affiliates (8%), Propane MLPs (7%), Shipping
(4%), Upstream MLPs (2%), and Coal and Other MLPs (1%).
The Company's ten largest holdings by issuer at September 30, 2009 were:
Units/Par ($)(in thousands) Amount($ millions) Percent ofLong-TermInvestments
1. Plains All American Pipeline, L.P. (Midstream MLP) 2,876 133.1 9.2%
2. Magellan Midstream Partners, L.P.