Closed end fund, Kayne Anderson MLP (KYN) is preparing for redemption of their 3.50% monthly paying term preferred shares.
They have announced the private placement of mandatory redemption preferreds in amounts that are adequate to redeem the KYN-F shares.
The KYN-F shares must be redeemed on 4/15/2020 (or before). Shares pay a 7 cent/month dividend and currently are trading at $25.12.
This is NOT a notice of redemption of KYN-F.
Disclosure–I own a large position in KYN-F.