Kayne Anderson obtains $250 million credit facility via JPMorgan

By Toni Weeks

San Luis Obispo, Calif., March 5 - Kayne Anderson MLP Investment Co. entered into a $250 million three-year revolving credit facility with JPMorgan Chase Bank, NA as administrative agent, according to a press release.

The facility matures March 4, 2016 and replaces the company's previous $200 million credit facility.

Borrowings will initially accrue interest at Libor plus 160 basis points, with the margin varying from 160 bps to 225 bps, depending on asset coverage ratios. There is a 30 bps unused fee.

Kayne Anderson currently has $37 million borrowed under the credit facility, the release said.

The non-diversified, closed-end management investment company is based in Houston.

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