Chicago, April 27 – Kayne Anderson NextGen Energy & Infrastructure, Inc. placed $20 million of mandatory redeemable preferred shares in a private placement expected to close on May 11, according to a press release.
The series I preferreds carry a dividend rate of Libor plus 175 basis points and have a mandatory redemption date of June 1, 2026.
Proceeds will be used to refinance existing leverage and for general corporate purposes.
Kayne Anderson is a Houston-based investment company.
Issuer: | Kayne Anderson NextGen Energy & Infrastructure, Inc.
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Issue: | Mandatory preferred shares, series I
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Amount: | $20 million
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Maturity: | June 1, 2026
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Coupon: | Libor plus 175 bps
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Announcement date: | April 27
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Settlement date: | May 11
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Distribution: | Private placement
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