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Kayne Anderson calls its $100 million of series D preferreds in full
By Tali David
Minneapolis, April 3 - Kayne Anderson MLP Investment Co. plans to redeem all $100 million of its series D mandatory redeemable preferred shares, according to an N23C2 filed with the Securities and Exchange Commission and a press release.
The preferreds will be redeemed at par of $25 per share plus accumulated dividends and a 0.5% redemption premium, for a total of $101,077,500, on May 13.
The company will use proceeds from an offering of series F mandatory redeemable preferreds to fund the redemption. It will also use proceeds to make investments in portfolio companies, to repay debt and for general corporate purposes.
Kayne Anderson MLP is a Houston-based non-diversified, closed-end investment company that invests in energy-related master limited partnerships.
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