KAYNE ANDERSON ENERGY INFRASTRUCTURE FUND, INC. 
By Kayne Anderson MLP Investment Company (the “Company”) (NYSE:KYN) announced that it reached a conditional agreement with institutional investors relating to a private placement of $140 million of unsecured notes (“Notes”) and $50 million of Mandatory Redeemable Preferred Shares (“Series H MRP Shares”).
The private placement is expected to close on April 30, 2014, and there will be two fundings in connection with the transaction: (a) $80 million of the Notes and the $50 million of the Series H MRP Shares will be issued on April 30, 2014 (the “April Funding”), and (b) the remaining $60 million of Notes will be issued on July 30, 2014 (the “July Funding”). The closing is subject to investor due diligence, legal documentation and other standard closing conditions. Proceeds from such offerings will be used to refinance existing indebtedness, to make new portfolio investments, and general corporate purposes.
The table below sets forth the timing and key terms of the Notes and the Series H MRP Shares:
| Security |
April |
July |
Total | Rate | Maturity | |||||||||||||
| Notes | ||||||||||||||||||
| Series II | $ | 80 | $ | – | $ | 80 | 3.93% | July 30, 2024 | ||||||||||
| Series JJ | – | 30 | 30 | 2.88% | July 30, 2019 | |||||||||||||
| Series KK | – | 30 | 30 | 3.46% | July 30, 2021 | |||||||||||||
| $ | 80 | $ | 60 | $ | 140 | |||||||||||||
| Mandatory Redeemable Preferred Stock | ||||||||||||||||||
| Series H | $ | 50 | $ | – | $ | 50 | 4.06% | July 30, 2021 | ||||||||||
Neither the Notes nor the Series H MRP Shares will be registered under the Securities Act of 1933, and neither may be offered or sold in the United States absent registration or an applicable exemption from registration.
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 Company'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 Company'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 Company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company's investment objectives will be attained.
