HOUSTON, Nov. 02, 2020 (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 October 31, 2020.
As of October 31, 2020, the Fund’s net assets were $278 million and its net asset value per share was $5.89. As of October 31, 2020, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 457% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 346%.
| Kayne Anderson NextGen Energy & Infrastructure, Inc. | ||||
| Statement of Assets and Liabilities | ||||
| October 31, 2020 | ||||
| (Unaudited) | ||||
| (in millions) | ||||
| Investments | $ | 387.6 | ||
| Cash and cash equivalents | 1.7 | |||
| Accrued income | 2.6 | |||
| Other assets | 0.5 | |||
| Total assets | 392.4 | |||
| Credit facility | 1.0 | |||
| Notes | 84.5 | |||
| Unamortized notes issuance costs | (0.2 | ) | ||
| Preferred stock | 27.5 | |||
| Unamortized preferred stock issuance costs | (0.1 | ) | ||
| Total leverage | 112.7 | |||
| Total liabilities | 1.7 | |||
| Net assets | $ | 278.0 | ||
The Fund had 47,197,462 common shares outstanding as of October 31, 2020.
As of October 31, 2020, equity and debt investments were 98% and 2%, respectively, of the Fund’s long-term investments of $388 million. Long-term investments were comprised of Midstream Company (49%), Renewable Infrastructure Company (30%), Utility Company (16%), Other Energy (2%), Infrastructure Company (1%) and Debt (2%).
The Fund’s ten largest holdings by issuer at October 31, 2020 were:
| Amount | Percent of | ||||
| 1. | The Williams Companies, Inc. (Midstream Company) | $25.9 | 6.7 | % | |
| 2. | Enterprise Products Partners L.P. (Midstream Company) | 20.6 | 5.3 | % | |
| 3. | Brookfield Renewable Partners L.P. (Renewable Infrastructure Company) | 18.6 | 4.8 | % | |
| 4. | Targa Resources Corp. (Midstream Company) | 16.5 | 4.2 | % | |
| 5. | NextEra Energy Partners, LP (Renewable Infrastructure Company) | 16.1 | 4.2 | % | |
| 6. | Atlantica Sustainable Infrastructure plc (Renewable Infrastructure Company) | 15.3 | 4.0 | % | |
| 7. | Kinder Morgan, Inc. (Midstream Company) | 13.8 | 3.6 | % | |
| 8. | Innergex Renewable Energy Inc. (Renewable Infrastructure Company) | 13.5 | 3.5 | % | |
| 9. | TC Energy Corporation (Midstream Company) | 12.4 | 3.2 | % | |
| 10. | NextEra Energy, Inc. (Utility Company) | 11.5 | 3.0 | % | |
| ____________ | |||||
| 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 Fund’s most recent quarterly or annual report.