Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at April 30, 2018

Wednesday, May 2, 2018 12:07 AM UTC

HOUSTON, May 01, 2018 -- 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 April 30, 2018.

As of April 30, 2018, the Company’s net assets were $2.0 billion, and its net asset value per share was $17.36. As of April 30, 2018, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 409% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 294%.

Kayne Anderson MLP Investment Company
Statement of Assets and Liabilities
April 30, 2018
(Unaudited)
	(in millions)			Per Share
Investments	$	3,350.0		$	29.02
Cash and cash equivalents		2.0			0.02
Deposits		0.2			0.00
Accrued income		23.5			0.20
Receivable for securities sold		5.3			0.05
Other assets		1.2			0.01
Total assets		3,382.2			29.30

Term Loan		27.0			0.23
Notes		716.0			6.20
Unamortized notes issuance costs		(2.5	)		(0.02	)
Preferred stock		292.0			2.53
Unamortized preferred stock issuance costs		(2.0	)		(0.02	)
Total leverage		1,030.5			8.92

Payable for securities purchased		0.7			0.01
Other liabilities		19.2			0.17
Deferred tax liability		328.0			2.84
Total liabilities		347.9			3.02

Net assets	$	2,003.8		$	17.36

The Company had 115,429,599 common shares outstanding as of April 30, 2018.

Long-term investments were comprised of Midstream MLP (85%), Midstream Company (13%), Shipping MLP (1%) and General Partner MLP (1%).

The Company’s ten largest holdings by issuer at April 30, 2018 were:

		Units / Shares (in thousands)	Amount (in millions)	Percent of Long-Term Investments
1.	Enterprise Products Partners L.P. (Midstream MLP)	17,877	$479.8	14.3	%
2.	Energy Transfer Partners, L.P. (Midstream MLP)	18,385	331.3	9.9	%
3.	ONEOK, Inc. (Midstream Company)	4,698	282.9	8.4	%
4.	MPLX LP (Midstream MLP)*	7,054	259.4	7.7	%
5.	Williams Partners L.P. (Midstream MLP)	7,094	258.2	7.7	%
6.	Buckeye Partners, L.P. (Midstream MLP)**	5,574	221.2	6.6	%
7.	Plains All American Pipeline, L.P. (Midstream MLP)	8,465	199.0	5.9	%
8.	Western Gas Partners, LP (Midstream MLP)	3,932	189.0	5.6	%
9.	Targa Resources Corp. (Midstream Company)	3,332	156.5	4.7	%
10.	Magellan Midstream Partners, L.P. (Midstream MLP)	1,930	127.0	3.8	%

_____________

* Includes 4,798 common units ($169.5 million) and 2,256 preferred units ($89.9 million).

** Includes 3,391 common units ($140.9 million) and 2,183 Class C units ($80.3 million).

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 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 of natural gas, natural gas liquids, 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 objective will be attained.

Contact:

KA Fund Advisors, LLC
877-657-3863
http://www.kaynefunds.com/

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Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at April 30, 2018

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