Kayne Anderson Energy Total Return Fund gets $100 million revolver

By Toni Weeks

San Luis Obispo, Calif., March 5 - Kayne Anderson Energy Total Return Fund, Inc. entered into a $100 million unsecured revolving credit facility due March 4, 2016, according to a press release.

Outstanding loan balances will initially accrue interest at Libor plus 160 basis points. The margin may vary from 160 bps to 225 bps, depending on asset coverage ratios. The fund will pay a 30 bps fee on any unused amounts under the facility.

Upon closing, the fund had $38 million in borrowings under the facility.

Houston-based Kayne Anderson Fund Advisors, LLC is the investment adviser to the fund.

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