Kayne Anderson Energy closes $170 million revolver due in 2022

By Wendy Van Sickle

Columbus, Ohio, Feb. 8 – Kayne Anderson Energy Infrastructure Fund entered into a $170 million unsecured revolving credit facility with a syndicate of lenders, according to a press release.

The facility matures on Feb. 25, 2022 and replaces the fund’s $225 million unsecured revolver that was scheduled to mature on Feb. 8, 2021.

Interest is Libor plus a margin that ranges from 130 basis points to 215 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. 8, the fund had $119 million of borrowings under the facility.

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

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