Kayne Anderson firm prices private placements of notes and MRP shares

Kayne Anderson MLP Investment Co.

Kayne Anderson MLP Investment Co. (NYSE:KYN) has reached a conditional agreement with institutional investors relating to a private placement of $200 million of unsecured notes and $25 million of mandatory redeemable preferred shares (Series I MRP shares).

Net proceeds from such offerings will be used to refinance existing indebtedness (including the redemption of the company’s $60 million Series M notes which mature on Nov. 4), to make new portfolio investments and for general corporate purposes.

The private placement is expected to close on Oct. 29. 

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