Kayne Anderson Energy Development Co. entered into a $70 million secured term loan as part of an amendment to its existing secured credit facility, the company said Sept. 2.
All proceeds from the term loan partly repaid borrowings on the $120 million secured revolving credit facility, whose maturity date was extended to Aug. 28, 2017, the company said. The facility’s interest rate remains unchanged.
The term loan matures Aug. 28, 2018, Kayne Anderson Energy Development added.
On Aug. 28, there was $43 million borrowed on the revolving facility and $77 million in undrawn capacity, the company said.
Kayne Anderson Energy Development Co. is part of KA Fund Advisors LLC, based in Houston.
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