Kayne Anderson MLP Investment completes $225 million placement of notes, preferreds

By Lisa Kerner

Charlotte, N.C., Oct. 30 – Kayne Anderson MLP Investment Co. announced the completion of a previously announced issue of notes totaling $200 million and $25 million of mandatory redeemable preferred shares on Wednesday.

The issue included $50 million of 2.89% six-year series LL notes, $40 million of 3.26% eight-year series MM notes, $20 million of 3.37% nine-year series NN notes, $90 million of 3.46% 10-year series OO notes and $25 million of 3.86% eight-year series I preferred shares.

Proceeds from the offering will be used to refinance existing debt, including the redemption of the company’s $60 million series M notes that mature on Nov. 4, 2014.

Also, proceeds will also be used to make new portfolio investments and for general corporate purposes.

Kayne Anderson MLP Investment is a Houston-based non-diversified, closed-end management company.

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