Kayne Anderson Energy Infrastructure Fund Completes Private Placement of $70 Million of Notes and $30 Million of Mandatory Redeemable Preferred Shares
Summary
HOUSTON, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Kayne Anderson Energy Infrastructure Fund, Inc. (the Company) (NYSE: KYN) announced today that it completed a private placement of $70 million of senior unsecured notes (Notes) and $30 million of mandatory redeemable preferred shares (MRP Shares).Net proceeds will be used to refinance existing leverage and for general corporate purposes. The table below sets forth the key terms of the Notes and MRP Shares issued.The Notes and MRP Shares issued in connection with this private placement will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration.Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. The Companys investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies. Kayne Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein.