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The 1940 Act requires investment companies to have minimum debt and total leverage (debt and preferred stock) coverage ratios of 300% and 200%, respectively, at the time of a common stock dividend declaration. The Company's borrowing agreements contain similar restrictions and require it to have a minimum coverage ratio of 300% as of the last day of each month.
| Asset Coverage Ratios under the Investment Company Act of 1940 (“1940 Act”) | ||
|---|---|---|
| Date (Close of Business) | With respect to senior securities representing indebtedness (300% minimum) | With respect to total leverage (debt and preferred stock) (200% minimum) |
| 04/25/2013 | 401% - Actual | NA |
| 11/30/2012 | 443% - Actual | NA |
| 08/31/2012 | 423% - Actual | NA |
| 05/31/2012 | 398% - Actual | NA |
| 02/29/2012 | 430% - Actual | NA |
| 11/30/2011 | 409% - Actual | NA |
| 08/31/2011 | 425% - Actual | NA |
| 05/31/2011 | 451% - Actual | NA |
| 02/28/2011 | 502% - Actual | NA |
| 11/30/2010 | 470% - Actual | NA |
| 08/31/2010 | 477% - Actual | NA |
($ in millions)
| Short-Term Borrowings | Commitment Available | Borrowing Base | Current Borrowings* | Rate | Maturity |
|---|---|---|---|---|---|
| Investment Facility | $ 95 | $176.4 | $89 | LIBOR + 200 bps | 3/30/2014 |
* The maximum amount that KED can borrow under its Investment Facility is limited to the lesser of the commitment amount and its borrowing base.