KAYNE ANDERSON NEXTGEN ENERGY & INFRASTRUCTURE, INC. Kayne Anderson NextGen Energy & Infrastructure, Inc. announced that it has entered into a $50 million unsecured revolving credit facility (the Credit Facility) with a syndicate of lenders. The Credit Facility matures on February 24, 2023. The Credit Facility replaces the Fund's $50 million unsecured revolving credit facility that was scheduled to mature on February 25, 2022.
The interest rate on outstanding borrowings under the Credit Facility may vary between SOFR plus 1.40% and SOFR plus 2.25%, depending on the Fund's asset coverage ratios. Based on the Fund's current asset coverage ratios, the interest rate is SOFR plus 1.40%. The Fund will pay a commitment fee of 0.20% per annum on any unused amounts of the Credit Facility.
As of February 25, 2022, the Fund had $35 million of borrowings outstanding under the Credit Facility.
