Kayne Anderson NextGen Energy & Infrastructure Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at December 31, 2021
HOUSTON, Jan. 03, 2022 (GLOBE NEWSWIRE) -- Kayne Anderson NextGen Energy & Infrastructure, Inc. (the “Fund”) (NYSE: KMF) 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 December 31, 2021.
As of December 31, 2021, the Fund’s net assets were $422.3 million and its net asset value per share was $8.95. As of December 31, 2021, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 482% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 359%.
| Kayne Anderson NextGen Energy & Infrastructure, Inc. | ||||
| Statement of Assets and Liabilities | ||||
| December 31, 2021 | ||||
| (Unaudited) | ||||
| (in millions) | ||||
| Investments | $ | 577.6 | ||
| Cash and cash equivalents | 1.5 | |||
| Accrued income | 1.1 | |||
| Other assets | 7.2 | |||
| Total assets | 587.4 | |||
| Credit facility | 37.0 | |||
| Notes | 84.5 | |||
| Unamortized notes issuance costs | (0.2 | ) | ||
| Preferred stock | 41.5 | |||
| Unamortized preferred stock issuance costs | (0.7 | ) | ||
| Total leverage | 162.1 | |||
| Other liabilities | 3.0 | |||
| Net assets | $ | 422.3 | ||
The Fund had 47,197,462 common shares outstanding as of December 31, 2021.
As of December 31, 2021, equity and debt investments were 99% and 1%, respectively, of the Fund’s long-term investments of $578 million. Long-term investments were comprised of Midstream Company (34%), Renewable Infrastructure Company (21%), Utility Company (21%), Natural Gas & LNG Infrastructure Company (20%), Other Energy (3%) and Debt (1%).
The Fund’s ten largest holdings by issuer at December 31, 2021 were:
| Amount | Percent of | |||||
| 1. | Enterprise Products Partners L.P. (Midstream Company) | $36.1 | 6.3 | % | ||
| 2. | Targa Resources Corp. (Midstream Company) | 32.9 | 5.7 | % | ||
| 3. | The Williams Companies, Inc. (Natural Gas & LNG Infrastructure Company) | 28.7 | 5.0 | % | ||
| 4. | MPLX LP (Midstream Company) | 26.3 | 4.6 | % | ||
| 5. | Cheniere Energy, Inc. (Natural Gas & LNG Infrastructure Company) | 26.2 | 4.5 | % | ||
| 6. | Brookfield Renewable Partners L.P. ** (Renewable Infrastructure Company) | 22.2 | 3.8 | % | ||
| 7. | Energy Transfer LP (Midstream Company) | 21.7 | 3.8 | % | ||
| 8. | TC Energy Corporation (Natural Gas & LNG Infrastructure Company) | 20.4 | 3.5 | % | ||
| 9. | Kinder Morgan, Inc. (Natural Gas & LNG Infrastructure Company) | 18.1 | 3.1 | % | ||
| 10. | NextEra Energy Partners, LP (Renewable Infrastructure Company) | 17.2 | 3.0 | % | ||
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* Excludes cash.
** Includes ownership of Brookfield Renewable Partners, L.P (“BEP”) and Brookfield Renewable Corporation (“BEPC”).