Kayne Anderson Energy Development Co. (NYSE: KED) completed a private placement of $25 million in mandatory redeemable preferred shares with an institutional investor, the company said April 10.
The Series A shares are the first issued under a three-year, $100 million uncommitted private shelf facility from the investor.
The shares will mature on April 10, 2020.
Proceeds will create new portfolio investments and support general corporate purposes.
Kayne Anderson Energy Development Co. is part of KA Fund Advisors LLC, based in Houston.
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