Kayne Anderson Midstream/Energy Fund, Inc. announced that it has closed a private placement of $40 million of senior unsecured notes. Net proceeds from the offering will be used to make new portfolio investments, to repay borrowings under the Fund's credit facility and for general corporate purposes.

The Kayne Anderson Midstream/Energy Fund has priced a $40 million private placement. The single, 10-year tranche printed at 165 bps over Treasurys. Bank of America Merrill Lynch, Morgan Stanley and Citigroup agented the deal, which priced on the back of two larger Kayne Anderson transactions, via the same banks-a $235 million deal for Kayne Anderson MLP Investment Co. and a $130 million deal for Kayne Anderson Energy Total Return Fund. Those two bonds were issued on March 22.

Kayne Anderson Midstream/Energy Fund, Inc. is looking for acquisition opportunities. Kayne Anderson has reached a conditional agreement with an institutional investor relating to a private placement of $40 million of senior unsecured notes and the net proceeds from the offering will be used to make new portfolio investments, repay borrowings under Kayne Anderson's credit facility and for general corporate purposes.