Kayne Anderson Midstream closes $100 million 364-day revolver

By Wendy Van Sickle

Columbus, Ohio, Feb. 7 – Kayne Anderson Midstream/Energy Fund entered into a $100 million 364-day unsecured revolving credit facility with a syndicate of lenders, according to a press release.

The facility matures on Feb. 8, 2021 and replaces the fund’s $100 million unsecured revolving credit facility that was scheduled to mature on Feb. 7.

Interest is Libor plus a margin that ranges from 130 basis points to 195 bps, depending on the fund’s asset coverage ratios.

Based on the fund’s current asset coverage ratios, the interest rate would be one-month Libor plus 130 bps.

The unused fee is 20 bps.

As of Feb. 7, the fund no borrowings under the facility.

JPMorgan Chase Bank, NA is the administrative agent.

Houston-based KA Fund Advisors, LLC manages the fund.

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