New York, March 22 - Kayne Anderson Energy Total Return Fund, Inc. said it priced a $130 million private placement of senior notes in four tranches.
The closed-end investment company will sell $6 million of five-year series I notes with a 2.59% coupon, $29 million of seven-year series J notes with a 3.07% coupon, $50 million of 10-year series K notes with a 3.72% coupon and $45 million of 12-year series L notes with a 3.82% coupon.
Proceeds will be used to refinance the fund's $128 million of series C notes that mature in August and for general corporate purposes.
Settlement is scheduled for August.
Kayne Anderson Energy Total Return Fund, Inc. is a non-diversified, closed-end management company that aims to provide a high total return with an emphasis on current income by investing primarily in securities of companies in the energy industry, mostly publicly traded energy-related master limited partnerships and limited liability companies taxed as partnerships, energy-related U.S. and Canadian royalty trusts, and income trusts and other companies that derive at least 50% of their revenues from operating assets used in the energy sector.
| Issuer: | Kayne Anderson Energy Total Return Fund, Inc.
|
| Issue: | Senior notes
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| Amount: | $130 million
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| Pricing date: | March 22
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| Settlement: | August
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| Distribution: | Private placement
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|
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| Series I
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| Amount: | $6 million
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| Maturity: | Five years
|
| Coupon: | 2.59%
|
|
|
| Series J
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| Amount: | $29 million
|
| Maturity: | Seven years
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| Coupon: | 3.07%
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|
|
| Series K
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| Amount: | $50 million
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| Maturity: | Ten years
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| Coupon: | 3.72%
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|
|
| Series L
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| Amount: | $45 million
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| Maturity: | Twelve years
|
| Coupon: | 3.82%
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