Kayne Anderson MLP Investment Company Announces Pricing of a Private Placement of Senior Notes
Kayne Anderson MLP Investment Company (NYSE: KYN) announced today that it reached a conditional agreement with institutional investors relating to a private placement of $175 million of senior unsecured notes.
Net proceeds from the offering will be used to repay borrowings under the Company's revolving credit facility, to refinance the Series I senior notes that mature in June 2012 ($60 million principal amount), to make new portfolio investments and for general corporate purposes. Closing of the private placement is scheduled to occur in early May 2012 and is subject to investor due diligence, legal documentation and other standard closing conditions.
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