Authorization

Kayne Anderson MLP/Midstream Investment Company Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and Asset Coverage Ratios at February 29, 2020

HOUSTON, March 03, 2020 (GLOBE NEWSWIRE) -- Kayne Anderson MLP/Midstream Investment Company (the a??Companya??) (NYSE: KYN) today provided a summary unaudited statement of assets and liabilities and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the a??1940 Acta??) as of February 29, 2020.
As of February 29, 2020, the Companya??s net assets were $1.5 billion, and its net asset value per share was $11.85. As of February 29, 2020, the Companya??s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 381% and the Companya??s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 250%.A A A A

Kayne Anderson MLP/Midstream Investment Company



Statement of Assets and Liabilities



February 29, 2020



(Unaudited)



A



A



(in millions)



A



Per Share



Investments



A



$



2,630.5



A



A



$



20.80



A



Cash and cash equivalents



A



A



11.5



A



A



A



0.09



A



Deposits



A



A



0.3



A



A



A



0.00



A



Accrued income



A



A



0.8



A



A



A



0.01



A



Receivable for securities sold



A



A



22.0



A



A



A



0.17



A



Income tax receivable



A



A



0.7



A



A



A



0.01



A



Other assets



A



A



1.4



A



A



A



0.01



A



Total assets



A



A



2,667.2



A



A



A



21.09



A



A



A



A



A



A



Term loan



A



A



60.0



A



A



A



0.47



A



Unamortized term loan issuance costs



A



A



(0.2



)



A



A



(0.00



)



Notes



A



A



596.0



A



A



A



4.71



A



Unamortized notes issuance costs



A



A



(1.4



)



A



A



(0.01



)



Preferred stock



A



A



342.0



A



A



A



2.71



A



Unamortized preferred stock issuance costs



A



A



(3.0



)



A



A



(0.02



)



Total leverage



A



A



993.4



A



A



A



7.86



A



A



A



A



A



A



Payable for securities purchased



A



A



5.2



A



A



A



0.04



A



Other liabilities



A



A



16.7



A



A



A



0.13



A



Current tax liability



A



A



-



A



A



A



-



A



Net deferred tax liability



A



A



152.9



A



A



A



1.21



A



Total liabilities



A



A



174.8



A



A



A



1.38



A



A



A



A



A



A



Net assets



A



$



1,499.0



A



A



$



11.85



A



A



A



A



A



A



The Company had 126,447,554 common shares outstanding as of February 29, 2020.



A



A



A



A



A



A



A



A



A


Long-term investments were comprised of Midstream MLP (69%), Midstream Company (29%), and Renewable Infrastructure/Utility Company (2%).The Companya??s ten largest holdings by issuer at February 29, 2020 were:

A



Units / Shares
(in thousands)



A



Amount
(in millions)



A



Percent of
Long-Term
Investments



1. Enterprise Products Partners L.P. (Midstream MLP)



16,244



A



$379.1



A



14.4%



2. Energy Transfer LP (Midstream MLP)



24,759



A



274.3



A



10.4%



3. ONEOK, Inc. (Midstream Company)



3,278



A



218.7



A



8.3%



4. The Williams Companies, Inc. (Midstream Company)



11,209



A



213.5



A



8.1%



5. MPLX LP (Midstream MLP)*



9,014



A



213.2



A



8.1%



6. Magellan Midstream Partners, L.P. (Midstream MLP)



3,186



A



173.8



A



6.6%



7. Targa Resources Corp. (Midstream Company)



3,943



A



127.7



A



4.9%



8. Shell Midstream Partners, L.P. (Midstream MLP)



6,621



A



113.3



A



4.3%



9. Plains All American Pipeline, L.P. (Midstream MLP)



8,261



A



112.9



A



4.3%



10. Phillips 66 Partners LP (Midstream MLP)



1,686



A



91.7



A



3.5%

_____________
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