Kayne Anderson Midstream/Energy Fund Inc. (NYSE: KMF) entered a $50 million unsecured revolving credit agreement with Tokyo-based Sumitomo Mitsui Banking Corp., the company said July 25.
The five-year facility expires July 25, 2019, the company said.
Kayne Anderson Midstream's total revolving credit commitments are $155 million with the addition of the new credit agreement, the company noted.
The new facility’s borrowings will bear interest at 1-month Libor plus 1.3%, the company said. Kayne Anderson Midstream will pay an annual commitment fee of 0.25% for any unused amounts, the company added.
Kayne Anderson Midstream/Energy Fund Inc. is part of KA Fund Advisors LLC, based in Houston.
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