In This Article:
HOUSTON, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company”) (NYSE: KYN) 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, 2020.
As of December 31, 2020, the Company’s net assets were $887 million, and its net asset value per share was $7.02. As of December 31, 2020, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 465% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 313%.
| Kayne Anderson Energy Infrastructure Fund, Inc. | |||
| Statement of Assets and Liabilities | |||
| December 31, 2020 | |||
| (Unaudited) | |||
| (in millions) | |||
| Investments | $ | 1,234.0 | |
| Cash and cash equivalents | 2.3 | ||
| Deposits | - | ||
| Accrued income | 0.7 | ||
| Current tax asset, net | 67.0 | ||
| Other assets | 0.7 | ||
| Total assets | 1,304.7 | ||
| Credit facility | 107.0 | ||
| Notes | 173.3 | ||
| Unamortized notes issuance costs | (0.6 | ) | |
| Preferred stock | 136.6 | ||
| Unamortized preferred stock issuance costs | (1.5 | ) | |
| Total leverage | 414.8 | ||
| Other liabilities | 2.8 | ||
| Net assets | $ | 887.1 | |
The Company had 126,447,554 common shares outstanding as of December 31, 2020.
Long-term investments were comprised of Midstream Energy Company (81%), Utility Company (10%) and Renewable Infrastructure Company (9%).
The Company’s ten largest holdings by issuer at December 31, 2020 were:
| Amount | Percent of | ||||
| 1. | MPLX LP (Midstream Energy Company) | $151.7 | 12.3 | % | |
| 2. | Enterprise Products Partners L.P. (Midstream Energy Company) | 130.9 | 10.6 | % | |
| 3 | Targa Resources Corp. (Midstream Energy Company) | 89.4 | 7.2 | % | |
| 4. | Energy Transfer LP (Midstream Energy Company) | 83.5 | 6.8 | % | |
| 5. | The Williams Companies, Inc. (Midstream Energy Company) | 83.2 | 6.7 | % | |
| 6. | Western Midstream Partners, LP (Midstream Energy Company) | 64.9 | 5.3 | % | |
| 7. | Magellan Midstream Partners, L.P. (Midstream Energy Company) | 57.4 | 4.7 | % | |
| 8. | Plains All American Pipeline, L.P. (Midstream Energy Company) | 49.4 | 4.0 | % | |
| 9. | ONEOK, Inc. (Midstream Energy Company) | 40.6 | 3.3 | % | |
| 10. | Shell Midstream Partners, L.P. (Midstream Energy Company) | 31.3 | 2.5 | % | |
_______________
1 Excludes Cash
Portfolio holdings are subject to change without notice. The mention of specific securities is not a recommendation or solicitation for any person to buy, sell or hold any particular security. You can obtain a complete listing of holdings by viewing the Company’s most recent quarterly or annual report.
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. The company's investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies.