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 October 31, 2015.

As of October 31, 2015, the Company’s net assets were $2.4 billion, and its net asset value per share was $21.73. As of October 31, 2015, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 386% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 256%.

 

Kayne Anderson MLP Investment Company

Statement of Assets and Liabilities
October 31, 2015
(Unaudited)
    (in millions)     Per Share
Investments $ 4,466.5 $ 40.05
Cash 77.1 0.69
Deposits 0.3 -
Accrued income 41.6 0.37
Receivable for securities sold 9.8 0.09
Other assets   12.4   0.11
Total assets 4,607.7 41.31
 
Senior notes 1,031.0 9.24
Preferred stock   524.0   4.70
Total leverage   1,555.0   13.94
 
Payable for securities purchased 23.1 0.21
Other liabilities 29.1 0.26
Deferred income tax liability   576.8   5.17
Total liabilities 629.0 5.64
 
Net assets $ 2,423.7 $ 21.73
 
The Fund had 111,525,012 common shares outstanding as of October 31, 2015.
 

Long-term investments were comprised of Midstream MLP (84%), Midstream Company (8%), General Partner MLP (4%), Shipping MLP (2%) and Other (2%).

The Company’s ten largest holdings by issuer at October 31, 2015 were:

           

Units / Shares
(in thousands)

Amount
($ millions)

Percent of
Long-Term
Investments

1. Enterprise Products Partners L.P. (Midstream MLP) 22,578 $623.8 14.0%
2. Energy Transfer Partners, L.P. (Midstream MLP) 11,618 513.1 11.5%
3. Williams Partners L.P. (Midstream MLP) * 10,598 358.2 8.0%
4. Kinder Morgan, Inc. (Midstream Company) 11,170 305.5 6.8%
5. Plains All American Pipeline, L.P. (Midstream MLP) 8,373 265.6 5.9%
6. ONEOK Partners, L.P. (Midstream MLP) 6,858 218.3 4.9%
7. MarkWest Energy Partners, L.P. (Midstream MLP)** 4,514 197.2 4.4%
8. DCP Midstream Partners, LP (Midstream MLP) 6,638 190.7 4.3%
9. Buckeye Partners, L.P. (Midstream MLP) 2,755 186.8 4.2%
10. Western Gas Partners, LP (Midstream MLP) 3,477 177.7 4.0%
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*On September 28, 2015, Energy Transfer Equity, L.P. (“ETE”) announced an agreement to combine with The Williams Companies, Inc. (“WMB”). WMB is the general partner of Williams Partners L.P. (“WPZ”). In conjunction with this announcement, WPZ announced the termination of the merger agreement between WMB and WPZ. As of October 31, 2015, the Company owned 1,410 units ($30.4 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 October 31, 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.