HOUSTON, February 3, 2023 (GLOBE NEWSWIRE) — Kayne Anderson NextGen Energy & Infrastructure, Inc. (the “Fund”) KMF announced today that it has reached conditional agreements with institutional investors for a private placement of $40 million of senior unsecured notes (“Notes”). The private placement is expected to be funded on or about March 29, 2023.
Net proceeds will be used to refinance existing leverage and for general corporate purposes. The following table sets out the key terms of the Notes to be issued:
| series | quantity ($ in millions) |
rate | maturity | |||
| F series notes | $40 | 5.18% | 3/29/2033 |
Completion of this transaction is subject to investor due diligence, legal documentation and other standard closing conditions. The debentures 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 NextGen Energy & Infrastructure, Inc. KMF is a closed-end, undiversified investment company incorporated under the Investment Company Act of 1940, as amended, and whose common stock is traded on the NYSE. The Fund’s investment objective is to achieve high 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 and infrastructure companies. The Fund anticipates that the majority of its investments will be made up of investments in “NextGen” companies, which we define as energy and infrastructure companies that are contributing significantly to or benefiting from the energy transition. For a description of these asset classes and the meaning of the capitalized terms, see the Glossary of Key Terms in the Fund’s most recent quarterly report.
This press release constitutes neither an offer to sell nor a solicitation to buy and…
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