Kayne Anderson NextGen Energy & Infrastructure Provides Unaudited Balance Sheet Information and Announces Net Asset Value and Asset Coverage Ratios as of November 30, 2021


HOUSTON, December 02, 2021 (GLOBE NEWSWIRE) – Kayne Anderson NextGen Energy & Infrastructure, Inc. (the “Fund” (NYSE: KMF) today provided an unaudited summary statement of assets and liabilities and announced its net asset value and asset coverage ratios under the Investment Companies Act of 1940 (the “Act of 1940”) as of November 30, 2021.

As at November 30, 2021, the Fund’s net assets were $ 415 million and its net asset value per share was $ 8.79. As at November 30, 2021, the asset coverage ratio of the Fund under the Senior Debt Securities Act 1940 was 488% and the asset coverage ratio of the Fund under the 1940 law relative to the total leverage (debt and preferred stock) was 361%. .

Kayne Anderson NextGen Energy & Infrastructure, Inc.

Statement of assets and liabilities

November 30, 2021

(Unaudited)

(in millions)

Investments

$

572.4

Cash and cash equivalents

1.1

Accumulated income

1.3

other assets

0.7

Total assets

575.5

Credit facility

33.0

Remarks

84.5

Unamortized note issuance costs

(0.2

)

Preferred stock

41.5

Unamortized preferred share issue costs

(0.7

)

Total leverage

158.1

Other liabilities

2.6

Net assets

$

414.8

The Fund had 47,197,462 common shares outstanding as of November 30, 2021.

As at November 30, 2021, investments in equities and debt securities represented 99% and 1%, respectively, of the Fund’s long-term investments of $ 572 million. Long-term investments included Midstream Company (34%), Renewable Infrastructure Company (21%), Natural Gas & LNG Infrastructure Company (21%), Utility Company (20%), Other Energy (3%) and Debt (1%) ).

The ten largest positions in the Fund by issuer as of November 30, 2021 were:

Rising
(in millions)

Percentage of
Long term
Investments *

1.

Enterprise Products Partners LP (Intermediate Company)

$ 35.6

6.2

%

2.

Targa Resources Corp. (Intermediate company)

32.5

5.7

%

3.

The Williams Companies, Inc. (Natural Gas and LNG Infrastructure Company)

29.5

5.2

%

4.

Cheniere Energy, Inc. (Natural gas and LNG infrastructure company)

27.1

4.7

%

5.

MPLX LP (Intermediate company)

26.1

4.6

%

6.

Brookfield Renewable Partners LP ** (Renewable Infrastructure Company)

22.4

3.9

%

7.

Energy Transfer LP (Intermediate company)

22.2

3.9

%

8.

TC Energy Corporation (Natural gas and LNG infrastructure company)

20.6

3.6

%

9.

Atlantica Sustainable Infrastructure plc

18.4

3.2

%

ten.

Kinder Morgan, Inc. (Natural gas and LNG infrastructure company)

17.7

3.1

%

________________________
* Excludes cash.
** Includes ownership of Brookfield Renewable Partners, LP (“BEP”) and Brookfield Renewable Corporation (“BEPC”).

Portfolio holdings are subject to change without notice. Mention of specific securities is not a recommendation or solicitation for any person to buy, sell or hold any particular security. You can obtain a complete list of holdings by consulting the most recent quarterly or annual report of the Fund.

Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF) is an undiversified closed-end investment company registered under the Investment Companies Act of 1940, as amended, whose common shares are traded on the NYSE. The investment objective of the Fund is to provide a high level of total return with an emphasis on cash distributions to its shareholders. The Fund seeks to achieve its investment objective by investing at least 80% of its total assets in securities of energy companies and infrastructure companies. The Fund expects that the majority of its investments will consist of investments in “NextGen” companies, which we define as energy companies and infrastructure companies that significantly participate in or benefit from the energy transition. See Glossary of Key Terms in the Fund’s most recent Quarterly Report for a description of these investment categories and the meaning of the terms in all capital letters.

This press release does not constitute an offer to sell or a solicitation to buy, and there will be no sale of securities in any jurisdiction in which such an offer or sale is not permitted. Nothing in this press release is intended to recommend any investment policy or strategy or to take into account the specific objectives or circumstances of an investor. Please consult your investment, tax or legal adviser about your personal situation before investing.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements that reflect assumptions, expectations, projections, intentions or beliefs about future events. These statements and others that do not relate strictly to historical or current facts constitute forward-looking statements within the meaning of United States federal securities laws. Forward-looking statements involve a variety of risks and uncertainties. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal developments; energy industry risk; risk of leverage; valuation risk; interest rate risk; fiscal risk; and other risks discussed in detail in the Fund’s filings with the SEC, available at www.kaynefunds.com Where www.sec.gov. Actual events could differ materially from these statements or from our current expectations or projections. You should not place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Kayne Anderson assumes no obligation to publicly update or revise any forward-looking statements contained herein. There can be no assurance that the Fund’s investment objectives will be achieved.

Contact: Investor Relations at (877) 657-3863 or [email protected]


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