Key Developments For Kayne Anderson MLP Investment Company
Kayne Anderson MLP Investment Company (KYN) (NYSE Arca)
Kayne Anderson MLP Investment Co Completes $110 Million Private Placement Of Senior Unsecured Notes
Kayne Anderson MLP Investment Co announced that it has completed a private placement of $110 million, aggregate principal amount, of senior unsecured fixed and floating rate notes. Net proceeds from the private placement will be used to repay certain of the Company's current borrowings.
Kayne Anderson MLP Investment Co Expects To Complete $110 Million Private Placement Of Senior Unsecured Notes
Kayne Anderson MLP Investment Co announced that it expects to complete a private placement of $110 million, aggregate principal amount, of senior unsecured fixed and floating rate notes. Net proceeds from the private placement will be used to repay certain of the Company's current borrowings. Detailed terms of the senior unsecured notes, as well as information on the current borrowings that are being repaid, will be provided when the transaction closes.
Kayne Anderson MLP Investment Co Announces Quarterly Distribution
Kayne Anderson MLP Investment Co announced its quarterly distribution of $0.48 per share for the period June 1, 2009 to August 31, 2009 and stated that it expects to maintain its quarterly distribution at $0.48 per share for the remainder of fiscal year 2009. The distribution for the quarter ended August 31, 2009 will be payable on October 9, 2009 to common stockholders of record on October 5, 2009, with an ex-dividend date of October 1, 2009.
Kayne Anderson MLP Investment Co Announces Exercise By Underwriters Of Option To Purchase Additional Common Stock
Kayne Anderson MLP Investment Co announced that underwriters of its common stock offering exercised their option to purchase an additional 723,700 shares at a price of $20.25 per share. The option was granted to the underwriters in connection with the Company's public offering of 5,500,000 shares of common stock. The closing of the offering, including the over-allotment option, occurred today. Total net proceeds from the offering of 6,223,700 shares are approximately $121 million and will be used by the Company to make additional portfolio investments that are consistent with the Company's investment objective, and for general corporate purposes.
Kayne Anderson MLP Investment Co Prices Public Follow On Offering Of Common Stock
Kayne Anderson MLP Investment Co announced that it has priced its public offering of common stock. The Company agreed to sell a total of 5,500,000 shares at a price to the public of $20.25 per share (exclusive of 825,000 shares that the underwriters may purchase pursuant to a 45-day option to cover over-allotments). Net proceeds from the offering of approximately $107 million will be used to make new additional portfolio investments that are consistent with the Company`s investment objective and policies, and for general corporate purposes. The offering is scheduled to close on August 5, 2009. UBS Securities LLC, Citigroup Global Markets Inc., and Morgan Stanley & Co. Incorporated are acting as joint book-running managers. RBC Capital Markets Corporation, Stifel, Nicolaus & Company, Incorporated, SMH Capital Inc. and Wunderlich Securities, Inc. are acting as co-managing underwriters on the offering.
