New York, Aug. 23 - Kayne Anderson MLP Investment Co. said it completed a $175 million senior note offering.
The series HH notes pay interest at a rate of Libor plus 125 basis points per annum.
They mature on Aug. 19, 2016.
The notes were being sold in a private offering pursuant to Rule 144A under the Securities Act of 1933 to qualified institutional buyers.
Proceeds will be used to make new portfolio investments, to repay debt and for general corporate purposes, according to a company news release.
Houston-based Kayne Anderson MLP Investment is a non-diversified, closed-end management company that aims to provide a high after-tax total return by investing at least 85% of its assets in energy-related master limited partnerships and other companies in the energy sector.
| Issuer: | Kayne Anderson MLP Investment Co.
|
| Issue: | Series HH senior notes
|
| Amount: | $175 million
|
| Maturity: | Aug. 19, 2016
|
| Coupon: | Libor plus 125 bps
|
| Pricing date: | Aug. 16
|
| Distribution: | Rule 144A
|
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