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Kayne Anderson Energy Total Return Fund closes $75 million revolver
By Tali Rackner
Norfolk, Va., March 2 – Kayne Anderson Energy Total Return Fund, Inc. announced that it entered into a $75 million two-year unsecured revolving credit facility with JPMorgan Chase Bank, NA as administrative agent, according to a Wednesday press release.
The facility replaces the fund’s $100 million unsecured revolving credit facility that was scheduled to mature on March 4, 2016.
Borrowings bear interest at Libor plus 160 basis points to 225 bps, depending on asset coverage ratios. Initial interest is one-month Libor plus 160 bps.
The unused fee is 30 bps.
At closing, no borrowings were outstanding.
The facility matures on Feb. 28, 2018.
Houston-based KA Fund Advisors, LLC manages the fund.
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