Reported Earlier, Kayne Anderson Energy Infrastructure Fund Enters Into $135M Revolving Credit Facility
Portfolio Pulse from Benzinga Newsdesk
Kayne Anderson Energy Infrastructure Fund, Inc. (KYN) has entered into a new $135 million unsecured revolving credit facility, maturing on February 20, 2025. This new facility replaces their previous $175 million facility that was set to mature on February 23, 2024.
February 23, 2024 | 8:03 am
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Kayne Anderson Energy Infrastructure Fund, Inc. has successfully renegotiated its revolving credit facility, securing a $135 million agreement that extends the maturity date by nearly a year.
The transition to a new credit facility with an extended maturity date not only ensures that KYN has continued access to necessary capital but also reflects positively on its financial management and stability. This could increase investor confidence in the short term, potentially leading to a positive impact on its stock price. The reduction in the facility size from $175 million to $135 million might raise questions about the reduction in available credit; however, the successful renegotiation and extension of the maturity date are likely to be viewed as positive developments.
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