Kayne Anderson Midstream/Energy Fund entered into a $100 million revolving credit facility with a syndicate of lenders.
According to a related 8-K filing, JPMorgan served as administrative agent.
The credit facility matures on February 8, 2021 and replaces the fund’s $100 million unsecured revolving credit facility that was scheduled to mature on February 7, 2020.
The interest rate on outstanding borrowings under the credit facility may vary between LIBOR plus 1.30% and LIBOR plus 1.95%, depending on the Fund’s asset coverage ratios. Based on the fund’s current asset coverage ratios, the interest rate would be equal to the one-month LIBOR plus 1.30%. The fund will pay a commitment fee of 0.20% per annum on any unused amounts of the credit facility. As of February 7, 2020, the fund had no borrowings outstanding under the credit facility.
Kayne Anderson Midstream/Energy Fund is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940.
