KMF - Kayne Anderson NextGen Energy & Infrastructure announces $50M credit facility

Kayne Anderson NextGen Energy & Infrastructure (NYSE:KMF) entered into a $50M unsecured revolving credit facility with a syndicate of lenders. The credit facility, which matures on Feb. 24, 2023, replaces KMF's $50M revolving credit facility that was scheduled to mature on Feb. 25. The interest rate on outstanding borrowings under the new credit facility may vary between SOFR plus 1.4% and SOFR plus 2.25%, depending on KMF's asset coverage ratios. Based on the current asset coverage ratios, the interest rate is SOFR plus 1.4%. KMF will pay a commitment fee of 0.2% per annum on any unused amounts of the credit facility. As of Feb. 25, KMF had $35M of borrowings outstanding under the credit facility.

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Kayne Anderson NextGen Energy & Infrastructure announces $50M credit facility