Kayne Anderson NextGen Energy & Infrastructure provides unaudited balance sheet information and announces its net asset value and asset coverage ratio on May 31, 2021


Houston, June 2, 2021 (Global News Service)-Kane Anderson NextGen Energy and Infrastructure Corporation (“Funds”) (NYSE stock code:KMF) Today provided an unaudited summary statement of assets and liabilities, and announced its net asset value and asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) as of May 31, 2021 .

As of May 31, 2021, the fund’s net assets were US$411 million and the net asset value per share was US$8.71. As of May 31, 2021, the Fund’s asset coverage ratio of preferred securities representing debt under the 1940 Act was 491%, and the Fund’s asset coverage ratio under the total leverage (debt and preferred stock) under the 1940 Act 389%.

Kane Anderson Next Generation Energy and Infrastructure Company
Balance sheet
May 31, 2021
(In millions)
investment $ 554.4
Cash and cash equivalents 1.6
Accrued income 1.7
Other assets 1.7
Total assets 559.4
Credit facility 28.0
notes 84.5
Unamortized bill issuance cost (0.3 )
Preferred stock 29.5
Unamortized preferred stock issuance costs (0.4 )
Total leverage 141.3
Securities payable to purchase 5.0
Other liabilities 2.1
Total liabilities 7.1
Net assets $ 411.0

As of May 31, 2021, the fund has 47,197,462 common shares outstanding.

As of May 31, 2021, equity and debt investments accounted for 99% and 1% of the fund’s US$554 million long-term investment, respectively. Long-term investments include midstream companies (38%), utility companies (21%), renewable infrastructure companies (19%), natural gas and LNG infrastructure (19%), other energy (2%), and debt (1%) ) ).

As of May 31, 2021, the top ten largest shares of the Fund held by the issuer are:

(In millions)
% Of
1. Targa Resources Corp. (midstream company) 39.8 USD 7.2 %
2. Enterprise Products Partners LP (midstream company) 37.3 6.7 %
3. The Williams Companies, Inc. (natural gas and LNG infrastructure) 34.2 6.2 %
4. Energy Transfer LP (midstream company) 26.1 4.7 %
5. MPLX LP (midstream company) 25.5 4.6 %
6. Brookfield Renewable Partners LP ** (Renewable Infrastructure Company) 25.0 4.5 %
7. TC Energy Corporation (natural gas and LNG infrastructure) 22.4 4.0 %
8. Cheniere Energy, Inc. (natural gas and LNG infrastructure) 19.9 3.6 %
9. Atlantica Sustainable Infrastructure Co., Ltd. (Renewable Infrastructure Company) 18.1 3.3 %
10. Plains GP Holdings, LP *** (midstream company) 17.6 3.2 %

* Excluding cash.
** Including the ownership of Brookfield Renewable Partners, LP (“BEP”) and Brookfield Renewable Corporation (“BEPC”).
*** Including the ownership of Plains GP Holdings, LP (“PAGP”) and Plains AAP, LP (“PAGP-AAP”).

The holdings of the portfolio are subject to change without notice. Mention of specific securities is not a recommendation or solicitation of anyone to buy, sell or hold any specific securities. You can get a complete list of holdings by viewing the fund’s most recent quarterly or annual report.

Kane Anderson Next Generation Energy and Infrastructure Corporation (NYSE stock code:KMF) Is a non-diversified, closed-end management investment company registered under the revised Investment Company Act of 1940, and its common stock is traded on the New York Stock Exchange. The fund’s investment objective is to provide a high level of total return, with a focus on distributing cash to its shareholders. The fund aims to achieve its investment objectives by investing at least 80% of its total assets in securities of energy companies and infrastructure companies. The fund expects that most of its investments will include investments in “NextGen” companies, which we define as energy companies and infrastructure companies that meaningfully participate in or benefit from the energy transition. For descriptions of these investment categories and the meaning of capitalized terms, please refer to the Glossary of Key Terms in the Fund’s latest quarterly report.

This press release does not constitute an offer to sell or an invitation to buy, nor may it sell any securities in any jurisdiction that does not allow such offers or sales. Nothing in this press release intends to recommend any investment policy or investment strategy, or to consider the specific goals or circumstances of any investor. Please consult your investment, tax or legal advisors on your personal situation before investing.

Note on forward-looking statements: This communication contains statements that reflect assumptions, expectations, predictions, intentions, or beliefs about future events. These and other statements that are not strictly related to historical or current facts constitute forward-looking statements as defined by the U.S. Federal Securities Act. Forward-looking statements involve various risks and uncertainties.These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; energy industry risks; leverage risks; valuation risks; interest rate risks; tax risks; and others discussed in detail in the fund’s filing with the US Securities and Exchange Commission Risk, please visit www.kaynefunds.com or www.sec.gov. Actual events may differ materially from these statements or our current expectations or forecasts. You should not place undue reliance on these forward-looking statements, which are only valid from the date of publication. Kane Anderson assumes no obligation to publicly update or revise any forward-looking statements made herein. There is no guarantee that the investment objectives of the Fund will be achieved.

Contact: Investor Relations Department (877) 657-3863 or cef@kaynecapital.com

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