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, 2014.

As of October 31, 2014, the Company’s net assets were $4.1 billion, and its net asset value per share was $37.46. As of October 31, 2014, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 406% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 302%.

Kayne Anderson MLP Investment Company

Statement of Assets and Liabilities
October 31, 2014
(Unaudited)
  (in millions)   Per Share
Investments

$

7,594.8

 

$

69.35

 

Cash 2.2 0.02
Deposits 0.3 -
Accrued income 51.5 0.47
Receivable for securities sold 4.4 0.04
Other assets   17.3     0.16  
Total assets 7,670.5 70.04
 
Credit facility / Term loan 17.0 0.16
Senior notes 1,495.0 13.65
Preferred stock   524.0     4.78  
Total leverage   2,036.0     18.59  
 
Payable for securities purchased 50.3 0.46
Other liabilities 35.9 0.33
Deferred income tax liability   1,445.6     13.20  
Total liabilities 1,531.8 13.99
 
Net assets $ 4,102.7   $ 37.46  
 
The Fund had 109,513,950 common shares outstanding as of October 31, 2014.
 

Long-term investments were comprised of Midstream MLP (86%), Midstream Company (4%), Shipping MLP (3%), Upstream MLP & Income Trust (2%), General Partner MLP (2%) and Other (3%).

The Company’s ten largest holdings by issuer at October 31, 2014 were:

       

Percent of

Units

Amounts

Long-Term

(in thousands)

($ millions)

Investments

1. Enterprise Products Partners L.P. (Midstream MLP)

18,326

 

$

676.2

 

8.9 %
2. Kinder Morgan Management, LLC (Midstream MLP)* 5,159 490.8 6.5 %
3. Regency Energy Partners LP (Midstream MLP) 15,102 453.1 6.0 %
4. Energy Transfer Partners, L.P. (Midstream MLP) 7,014 451.9 6.0 %
5. MarkWest Energy Partners, L.P. (Midstream MLP) 5,838 409.0 5.4 %
6. Williams Partners L.P. (Midstream MLP)** 7,859 405.1 5.3 %
7. Plains All American Pipeline, L.P. (Midstream MLP) 6,805 383.5 5.0 %
8. DCP Midstream Partners, LP (Midstream MLP) 6,329 335.1 4.4 %
9. ONEOK Partners, L.P. (Midstream MLP) 5,895 301.2 4.0 %
10. Access Midstream Partners, L.P. (Midstream MLP)** 3,732 232.5 3.1 %
_____________
* On August 10, 2014, Kinder Morgan, Inc. (“KMI”) announced that it will acquire all of the outstanding equity securities of Kinder Morgan Management, LLC (“KMR”), Kinder Morgan Energy Partners, L.P. (“KMP”) and El Paso Pipeline Partners, L.P. (“EPB”). The transaction is expected to close in November 2014. At October 31, 2014, in addition to the KMR shares owned by the Company, it owned 1,036 shares of KMI ($40.1 million), 1,944 common units of KMP ($182.3 million) and 5,305 common units of EPB ($215.7 million).
**On October 24, 2014, Williams Partners L.P. (“WPZ”) entered into a merger agreement with Access Midstream Partners, L.P. (“ACMP”). The merger is expected to close in early 2015.
 

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.