Kayne Anderson energy entities get two revolvers for $250 million total

By Wendy Van Sickle

Columbus, Ohio, Feb. 25 – Kayne Anderson Energy Infrastructure Fund, Inc. entered into a $200 million unsecured revolving credit facility, and Kayne Anderson NextGen Energy & Infrastructure, Inc. entered into a $50 million unsecured revolving credit facility, according to two press releases Friday.

Each revolver matures on Feb. 24, 2023.

The Kayne Anderson Energy Infrastructure Fund revolver replaces a $170 million revolver that was due to mature on Feb. 25.

At Feb. 25, the company had $77 million drawn on the Kayne Anderson Energy Infrastructure Fund revolver.

The Kayne Anderson NextGen Energy & Infrastructure revolver replaces a $50 million revolver that was due to mature on Feb. 25.

As of Feb. 25, $35 million was drawn on the $50 million revolver.

Both revolvers bear interest at SOFR plus a margin ranging from 140 basis points to 225 bps, depending on the company’s asset coverage ratios. The current margin for each revolver is 140 bps and each has a commitment fee of 20 bps.

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

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