(NYSE:KED) Kayne Anderson Energy Development Company (the “Company” or
“KED”) announced today that it has entered into a $70 million secured
term loan (the “Term Loan”) as part of an amendment to its existing
secured credit facility (the “Credit Facility”). All of the proceeds
from the Term Loan were used to partially repay amounts borrowed on the
Company’s existing $120 million secured revolving credit facility (the
“Revolving Facility”). Outstanding loan balances on the Term Loan accrue
interest daily at a rate equal to one-month LIBOR plus 1.35%. The
interest rate of the Revolving Facility was unchanged at one-month LIBOR
The Term Loan matures on August 28, 2018, and as part of the amendment
to the Credit Facility, the maturity date of the Revolving Facility was
extended to August 28, 2017.
NYSE MKT Equities Exchange Symbol - UEC The PEA shows a robust pre-tax project Internal Rate of Return ("IRR")
of 63% and a Net Present Value ("NPV") of $142.2 million at a discount
rate of 10%, with a post-tax IRR of 50% and an NPV of $101.1 million ,
based on a uranium price of $65 per pound.
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