Kayne Anderson boosts revolver to $200 million by adding lender

By Susanna Moon

Chicago, April 16 - Kayne Anderson MLP Investment Co. said it amended its unsecured revolving credit facility due June 11, 2013, boosting the amount of total commitments to $200 million.

The $25 million bump-up was the result of adding a new lender to the syndicate, according to a company press release.

The other loan terms remain unchanged.

Interest on the loans will be equal to one-month Libor plus 175 basis points, based on current asset coverage ratios. The margin over Libor range from 175 bps to 300 bps.

The unused fee is 40 bps.

The company has $139 million of borrowings under the facility.

Kayne Anderson is a Houston-based non-diversified, closed-end investment company.

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