Kayne Anderson closes $15M preferred share private placement

Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) completed a private placement of $15 million in mandatory redeemable preferred shares, according to a company statement.

The shares, designated as Series Y, carry a dividend rate of 5.70% and a mandatory redemption date of December 1, 2031.

The company said it intends to use the net proceeds to refinance existing leverage and for general corporate purposes.

The MRP Shares were not registered under the Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.

Kayne Anderson Energy Infrastructure Fund is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, with common stock trading on the New York Stock Exchange.

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