Kayne Anderson energy entities get two revolvers for $220 million

By Wendy Van Sickle

Columbus, Ohio, Feb. 24 – Kayne Anderson Energy Infrastructure Fund, Inc. entered into a $175 million unsecured revolving credit facility, and Kayne Anderson NextGen Energy & Infrastructure, Inc. entered into a $45 million unsecured revolver, according to two press releases on Friday.

Each revolver matures on Feb. 23, 2024.

The Kayne Anderson Energy Infrastructure Fund revolver replaces a $200 million revolver that was due to mature on Feb. 24, 2023.

At Feb. 24, the company had no borrowings under 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. 24, 2023.

As of Feb. 24, $6 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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