Kayne Anderson Midstream redeems $105 million of notes, preferreds

By Devika Patel

Knoxville, Tenn., April 27 – Kayne Anderson Midstream/Energy Fund redeemed $70 million of unsecured senior notes and $35 million of mandatory redeemable preferred shares on April 24 with cash on hand, according to a press release.

In response to the market volatility experienced during March and April, the company has reduced leverage by approximately $149 million, or 54%, relative to February levels.

As of April 24, the company had $127 million of outstanding leverage, consisting of $87 million of notes and $40 million of preferreds.

Kayne Anderson is a Houston investment company.

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