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Kayne Anderson (KYN) clears $2M Series QQ debt per MetLife filing

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Kayne Anderson Energy Infrastructure Fund, Inc. (KYN) — Form 4 overview

On 23 June 2025, MetLife Investment Management, LLC ("MIM") filed a Form 4 as a 10 % owner of KYN. The filing documents the maturity and full repayment of KYN’s 1.81 % Series QQ Senior Unsecured Notes that were due 19 June 2025.

  • Security: 1.81 % Series QQ Senior Unsecured Notes due 19 Jun 2025
  • Principal reported: 2,000,000 (aggregate across two identical line items)
  • Transaction code: J – disposition classified as “other” because the notes matured
  • Date of transaction: 19 Jun 2025
  • Resulting ownership: 0; MIM no longer holds the notes

Footnotes specify that the notes were held in client accounts managed by MIM, that interest paid at maturity is exempt from Section 16 reporting, and that MIM disclaims beneficial ownership beyond any pecuniary interest. No derivative securities were reported.

The disclosure reflects a routine debt-maturity event and does not involve KYN common shares or any change in insider equity ownership. Accordingly, it appears administrative rather than materially impactful for current shareholders.

Positive

  • None.

Negative

  • None.

Insights

TL;DR: Routine note maturity; $2 M principal repaid, MetLife IM exits position, no equity change.

The Form 4 simply records the 19 June 2025 maturity of KYN’s 1.81 % Series QQ senior notes. The issuer repaid the $2 M principal plus accrued interest, eliminating MetLife Investment Management’s debt holding. Because the security was debt and not convertible equity, the transaction neither dilutes shareholders nor alters insider equity ownership. The repayment confirms KYN’s ability to meet scheduled obligations but does not reveal new leverage, refinancing, or earnings information. For investors, the filing is best viewed as housekeeping with negligible valuation impact.

TL;DR: Scheduled payoff of privately placed leverage; leverage marginally reduced, impact immaterial.

Closed-end funds like KYN often employ privately placed notes for leverage. The Series QQ notes were one such instrument. Their scheduled payoff removes $2 M of fixed-rate leverage priced at 1.81 %. Given KYN’s much larger asset base, the leverage reduction is de minimis and is unlikely to affect distribution policy or NAV volatility. No indication of refinancing accompanies the filing. Overall, the event is ordinary and not actionable for portfolio positioning.

Insider MetLife Investment Management, LLC
Role 10% Owner
Type Security Shares Price Value
Other 1.81% Series QQ Senior Unsecured Notes Due June 19, 2025 2,000,000 $0.00 $0.00
Other 1.81% Series QQ Senior Unsecured Notes Due June 19, 2025 2,000,000 $0.00 $0.00
Holdings After Transaction: 1.81% Series QQ Senior Unsecured Notes Due June 19, 2025 — 0 shares (Indirect, See Footnotes)
Footnotes (3)
  1. F1. These 1.81% Series QQ Senior Unsecured Notes Due June 19, 2025 ("Series QQ Senior Unsecured Notes") matured on June 19, 2025, on which date the Issuer repaid the original principal amount, plus accrued and unpaid interest, which interest is exempt from Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), pursuant to Rule 16a-9 thereunder.
  2. F2. These Series QQ Senior Unsecured Notes were held directly by clients for whom the Reporting Person serves as investment manager.
  3. F3. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What did the latest Form 4 for KYN report?
The form shows that KYN repaid its 1.81 % Series QQ senior notes on 19 Jun 2025, eliminating MetLife Investment Management’s $2 M holding.

How much principal of KYN’s Series QQ notes was repaid?
$2,000,000 in principal was repaid to noteholders at maturity.

Does MetLife Investment Management still hold any Series QQ notes after 19 June 2025?
No. Beneficial ownership reported for these notes is now zero.

What is the interest rate and maturity date of the repaid notes?
1.81 % fixed rate; maturity date 19 June 2025.

Which transaction code was used in the filing?
Transaction code J, indicating an "other" disposition (maturity repayment).
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
MetLife Investment Management, LLC
(Last) (First) (Middle)
ONE METLIFE WAY
(Street)
WHIPPANY NJ 07981
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Kayne Anderson Energy Infrastructure Fund, Inc. [ KYN ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/19/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
1.81% Series QQ Senior Unsecured Notes Due June 19, 2025 06/19/2025 J(1) 2,000,000 D (1) 0 I(2)(3) See Footnotes(2)(3)
1.81% Series QQ Senior Unsecured Notes Due June 19, 2025 06/19/2025 J(1) 2,000,000 D (1) 0 I(2)(3) See Footnotes(2)(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. These 1.81% Series QQ Senior Unsecured Notes Due June 19, 2025 ("Series QQ Senior Unsecured Notes") matured on June 19, 2025, on which date the Issuer repaid the original principal amount, plus accrued and unpaid interest, which interest is exempt from Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), pursuant to Rule 16a-9 thereunder.
2. These Series QQ Senior Unsecured Notes were held directly by clients for whom the Reporting Person serves as investment manager.
3. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose.
/s/ Israel Grafstein, Chief Compliance Officer of MetLife Investment Management, LLC 06/23/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR