KYN Announces Name Change to Kayne Anderson MLP/Midstream Investment Company
HOUSTON, July 30, 2018 (GLOBE NEWSWIRE) -- Kayne Anderson MLP Investment Company (NYSE:KYN) (“KYN” or the “Company”) announced today that the Company changed its name from Kayne Anderson MLP Investment Company to Kayne Anderson MLP/Midstream Investment Company. KYN previously announced its intent to change its name in February 2018 when the Company announced the proposed merger with Kayne Anderson Energy Development Company (NYSE:KED).
“We believe this change is consistent with recent trends in the midstream sector, with an increasing amount of midstream assets being held by Midstream Energy Companies that are not structured as MLPs” said Kevin McCarthy, the Company’s Chairman and CEO. “Changing the Company’s name increases its flexibility to invest in securities issued by all types of Midstream Energy Companies.”
The Company, which is traded on the New York Stock Exchange (“NYSE”), will begin trading under its new name July 31, 2018. It will continue to trade under the ticker symbol KYN.
Kayne Anderson MLP/Midstream Investment Company is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, whose common stock is traded on the NYSE. KYN’s investment objective is to obtain a high after-tax total return by investing at least 85% of its total assets in energy-related partnerships and their affiliates (collectively, “MLPs”), and in other companies that, as their principal business, operate assets used in the gathering, transporting, processing, storing, refining, distributing, mining or marketing of natural gas, natural gas liquids, crude oil, refined petroleum products or coal.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This press release contains “forward-looking statements” as defined under the U.S. federal securities laws. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ from the either company’s historical experience and its present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; MLP industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in each company’s filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The companies undertake no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that either company’s investment objectives will be attained.
KA Fund Advisors, LLC877-657-3863 http://www.kaynefunds.com/