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Kayne Anderson enters $150 million 364-day revolving credit facility
By Sarah Lizee
Olympia, Wash., Feb. 16 – Kayne Anderson MLP Investment Co. entered into a $150 million 364-day unsecured revolving credit facility with a syndicate of lenders, according to a press release.
The facility matures on Feb. 15, 2019 and replaces the company’s $150 million revolver that was scheduled to mature on Feb. 28.
Interest ranges from Libor plus 130 basis points to Libor plus 195 bps, depending on the company’s asset coverage ratios.
Based on the company’s current asset coverage ratios, the interest rate would be one-month Libor plus 130 bps.
The company will pay a commitment fee of 20 bps on any unused amounts under the facility.
As of Feb. 15, the company had no borrowings under the facility.
JPMorgan Chase Bank, NA is the administrative agent.
Kayne Anderson MLP is a Houston-based closed-end investment company focused on energy-related master limited partnerships and their affiliates.
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