Kayne Anderson greenshoe exercised, lifts preferreds to $125 million

By Tali David

Minneapolis, April 3 - Underwriters for Kayne Anderson MLP Investment Co.'s 3.5% series F mandatory redeemable preferred share offering fully exercised their over-allotment option, adding an additional $15 million, or 600,000 preferreds, according to a press release.

The company priced $110 million, or 4.4 million, of the $25-par preferreds on March 26. The issue size is now $125 million.

As previously reported, BofA Merrill Lynch, Citigroup Global Markets Inc. and UBS Investment Bank are the joint bookrunners. RBC Capital Markets, LLC is the lead manager.

Beginning Monday, the preferreds will be publicly traded on the New York Stock Exchange under the symbol "KYN PR F."

The company will use the proceeds to redeem its series D mandatory redeemable preferred shares, to make investments in portfolio companies, to repay debt and for general corporate purposes.

Kayne Anderson MLP Investment is a management investment company based in Houston that invests in energy-related master limited partnerships.

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