Kayne Anderson MLP Investment Company (the “Company”) (NYSE:KYN) today provided a summary unaudited statement of assets and liabilities and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the “1940 Act”) as of September 30, 2015.

As of September 30, 2015, the Company’s net assets were $2.2 billion, and its net asset value per share was $20.22. As of September 30, 2015, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 369% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 245%.

 

Kayne Anderson MLP Investment Company

Statement of Assets and Liabilities
September 30, 2015
(Unaudited)
  (in millions)   Per Share
Investments $ 4,102.4 $ 36.89
Cash 30.3 0.27
Deposits 0.3 -
Accrued income 0.7 0.01
Receivable for securities sold 114.7 1.03
Other assets   12.6   0.12
Total assets 4,261.0 38.32
 
Senior notes 1,031.0 9.27
Preferred stock   524.0   4.71
Total leverage   1,555.0   13.98
 
Other liabilities 19.1 0.17
Deferred income tax liability   438.7   3.95
Total liabilities 457.8 4.12
 
Net assets $ 2,248.2 $ 20.22
 
The Fund had 111,201,735 common shares outstanding as of September 30, 2015.
 

Long-term investments were comprised of Midstream MLP (85%), Midstream Company (8%), General Partner MLP (3%), Shipping MLP (2%) and Other (2%).

The Company’s ten largest holdings by issuer at September 30, 2015 were:

   

Units / Shares
(in thousands)

  

Amounts
($ millions)

  

Percent of
Long-Term
Investments

1. Enterprise Products Partners L.P. (Midstream MLP) 22,627 $563.4 13.7%
2. Energy Transfer Partners, L.P. (Midstream MLP) 12,021 493.7 12.0%
3. Williams Partners L.P. (Midstream MLP) * 10,550 336.8 8.2%
4. Kinder Morgan, Inc. (Midstream Company) 10,928 302.5 7.4%
5. Plains All American Pipeline, L.P. (Midstream MLP) 8,373 254.4 6.2%
6. ONEOK Partners, L.P. (Midstream MLP) 6,858 200.7 4.9%
7. MarkWest Energy Partners, L.P. (Midstream MLP)** 4,514 193.7 4.7%
8. Buckeye Partners, L.P. (Midstream MLP) 2,755 163.3 4.0%
9. DCP Midstream Partners, LP (Midstream MLP) 6,561 158.6 3.9%
10. Western Gas Partners, LP (Midstream MLP) 3,387 158.6 3.9%

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*On September 28, 2015, Energy Transfer Equity, L.P. (“ETE”) announced the acquisition of The Williams Companies, Inc. (“WMB”). This transaction is anticipated to close in the first half of 2016. The announcement followed the termination of the previously announced merger agreement between WMB and Williams Partners L.P. (“WPZ”). As of September 30, 2015, the Company owned 1,471 units ($30.6 million) of ETE and no shares of WMB.
 
** On July 13, 2015, MPLX LP (“MPLX”) and MarkWest Energy Partners, L.P. announced the signing of a definitive merger agreement. At September 30, 2015, the Company did not own any MPLX units.
 

Kayne Anderson MLP Investment Company is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, whose common stock is traded on the NYSE. The Company's investment objective is to obtain a high after-tax total return by investing at least 85% of its total assets in energy-related master limited partnerships and their affiliates (collectively, “MLPs”), and in other companies that, as their principal business, operate assets used in the gathering, transporting, processing, storing, refining, distributing, mining or marketing natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the Fund’s historical experience and its present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; MLP industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in the Fund’s filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund’s investment objective will be attained.