Kayne Anderson MLP to redeem $125 million 3.5% series F preferreds

By Wendy Van Sickle

Columbus, Ohio, Jan. 14 – Kayne Anderson MLP/Midstream Investment Co. will redeem its $125 million of 3.5% series F mandatory redeemable preferred shares on Feb. 13, according to a news release.

For each of the 5 million preferreds, the issuer will pay the liquidation preference of $25.00 plus accrued dividends for the first 12 days of February.

The company expects to fund the redemption with proceeds from a private placement of $100 million of series L mandatory redeemable preferreds and $75 million of series M mandatory redeemable preferreds to be issued in February.

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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