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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) |
| 05/16/2013 | 440% - Actual 444% - Pro forma* |
347% |
| 05/09/2013 | 438% - Actual 438% - Pro forma* |
346% |
| 05/02/2013 | 419% - Actual 419% - Pro forma* |
334% |
| 04/30/2013 | 417% - Actual | 334% |
| 04/25/2013 | 436% - Actual 413% - Pro forma** |
344% |
| 04/18/2013 | 426% - Actual 399% - Pro forma** |
336% |
| 04/11/2013 | 491% - Actual 452% - Pro forma* |
374% |
| 04/04/2013 | 523% - Actual 523% - Pro forma* |
389% |
| 03/31/2013 | 530% - Actual | 394% |
| 03/21/2013 | 517% - Actual 517% - Pro forma* |
384% |
| 03/14/2013 | 459% - Actual 459% - Pro forma* |
352% |
| 03/07/2013 | 442% - Actual 442% - Pro forma* |
342% |
| 02/28/2013 | 443% - Actual | 342% |
| 02/21/2013 | 480% - Actual 470% - Pro forma* |
361% |
| 02/14/2013 | 452% - Actual 449% - Pro forma* |
348% |
| 02/07/2013 | 480% - Actual 480% - Pro forma* |
362% |
| 01/31/2013 | 509% - Actual | 377% |
| 01/24/2013 | 494% - Actual 471% - Pro forma* |
367% |
| 01/17/2013 | 449% - Actual 434% - Pro forma* |
343% |
| 01/10/2013 | 448% - Actual 436% - Pro forma** |
341% |
| 01/03/2013 | 481% - Actual 457% - Pro forma** |
357% |
| 12/31/2012 | 466% - Actual | 346% |
| 12/27/2012 | 458% - Actual 435% - Pro forma** |
340% |
| 12/20/2012 | 441% - Actual 417% - Pro forma* |
335% |
| 12/13/2012 | 416% - Actual 416% - Pro forma* |
319% |
| 12/06/2012 | 423% - Actual 423% - Pro forma* |
324% |
| 11/30/2012 | 429% - Actual | 328% |
| 11/29/2012 | 428% - Actual 428% - Pro forma* |
328% |
| 11/23/2012 | 429% - Actual 425% - Pro forma* |
328% |
| 11/15/2012 | 412% - Actual 408% - Pro forma* |
315% |
| 11/08/2012 | 426% - Actual 426% - Pro forma* |
326% |
| 11/01/2012 | 427% - Actual 425% - Pro forma* |
330% |
| 10/31/2012 | 426% - Actual | 329% |
| 10/25/2012 | 426% - Actual 418% - Pro forma** |
329% |
| 10/18/2012 | 435% - Actual 420% - Pro forma** |
335% |
| 10/11/2012 | 452% - Actual 442% - Pro forma* |
344% |
| 10/04/2012 | 462% - Actual 455% - Pro forma* |
351% |
| 09/30/2012 | 493% - Actual | 365% |
| 09/27/2012 | 514% - Actual 481% - Pro forma* |
375% |
| 09/20/2012 | 438% - Actual 438% - Pro forma* |
336% |
| 09/13/2012 | 427% - Actual 427% - Pro forma* |
329% |
| 09/06/2012 | 434% - Actual 431% - Pro forma* |
332% |
| 08/31/2012 | 432% - Actual | 331% |
| 08/30/2012 | 435% - Actual 432% - Pro forma* |
331% |
| 08/23/2012 | 435% - Actual 430% - Pro forma** |
331% |
| 08/16/2012 | 470% - Actual 450% - Pro forma** |
349% |
| 08/09/2012 | 462% - Actual 460% - Pro forma** |
345% |
| 08/02/2012 | 462% - Actual 462% - Pro forma** |
345% |
| 07/31/2012 | 467% - Actual | 348% |
| 07/26/2012 | 473% - Actual 455% - Pro forma** |
350% |
| 07/19/2012 | 440% - Actual 440% - Pro forma** |
334% |
| 07/12/2012 | 475% - Actual 420% - Pro forma* |
348% |
| 07/05/2012 | 488% - Actual 456% - Pro forma* |
355% |
| 06/30/2012 | 475% - Actual | 348% |
| 06/28/2012 | 476% - Actual 476% - Pro forma* |
346% |
| 06/21/2012 | 474% - Actual 474% - Pro forma* |
345% |
| 06/14/2012 | 468% - Actual 458% - Pro forma* |
342% |
| 06/07/2012 | 492% - Actual 490% - Pro forma* |
353% |
| 05/31/2012 | 449% - Actual | 334% |
| 05/24/2012 | 451% - Actual 451% - Pro forma* |
336% |
| 05/17/2012 | 448% - Actual 448% - Pro forma* |
334% |
| 05/10/2012 | 441% - Actual 441% - Pro forma* |
334% |
| 05/03/2012 | 447% - Actual 447% - Pro forma* |
338% |
| 04/30/2012 | 449% - Actual | 341% |
| 04/26/2012 | 439% - Actual 439% - Pro forma* |
334% |
| 04/19/2012 | 442% - Actual 408% - Pro forma** |
334% |
| 04/12/2012 | 437% - Actual 430% - Pro forma* |
332% |
| 04/05/2012 | 438% - Actual 438% - Pro forma* |
334% |
| 03/31/2012 | 448% - Actual | 339% |
| 03/29/2012 | 454% - Actual 434% - Pro forma* |
341% |
| 03/22/2012 | 448% - Actual 448% - Pro forma* |
339% |
| 03/15/2012 | 391% - Actual 390% - Pro forma* |
339% |
| 03/08/2012 | 398% - Actual 398% - Pro forma* |
344% |
| 02/29/2012 | 456% - Actual | 385% |
| 02/23/2012 | 447% - Actual 468% - Pro forma* |
377% |
| 02/16/2012 | 444% - Actual 444% - Pro forma* |
375% |
| 02/09/2012 | 429% - Actual 429% - Pro forma* |
365% |
| 02/02/2012 | 459% - Actual 436% - Pro forma* |
385% |
| 01/31/2012 | 482% - Actual | 399% |
| 01/26/2012 | 484% - Actual 484% - Pro forma* |
401% |
| 01/19/2012 | 455% - Actual 447% - Pro forma* |
381% |
| 01/12/2012 | 498% - Actual 444% - Pro forma** |
408% |
| 01/05/2012 | 509% - Actual 496% - Pro forma** |
415% |
| 12/31/2011 | 504% - Actual | 411% |
| 12/22/2011 | 466% - Actual 466% - Pro forma* |
386% |
| 12/15/2011 | 453% - Actual 437% - Pro forma* |
375% |
| 12/08/2011 | 470% - Actual 453% - Pro forma* |
386% |
| 11/30/2011 | 473% - Actual | 388% |
| 11/25/2011 | 421% - Actual 421% - Pro forma* |
352% |
| 11/17/2011 | 426% - Actual 424% - Pro forma* |
356% |
| 11/10/2011 | 424% - Actual 424% - Pro forma* |
355% |
| 11/03/2011 | 429% - Actual 429% - Pro forma* |
359% |
| 10/31/2011 | 434% - Actual | 362% |
| 10/27/2011 | 444% - Actual 429% - Pro forma** |
369% |
| 10/20/2011 | 429% - Actual 408% - Pro forma** |
356% |
| 10/13/2011 | 442% - Actual 442% - Pro forma* |
362% |
| 10/06/2011 | 405% - Actual 405% - Pro forma* |
336% |
| 09/30/2011 | 404% - Actual | 335% |
| 09/29/2011 | 408% - Actual 408% - Pro forma* |
339% |
| 09/22/2011 | 395% - Actual 395% - Pro forma* |
329% |
| 09/15/2011 | 410% - Actual 410% - Pro forma* |
342% |
| 09/08/2011 | 399% - Actual 399% - Pro forma* |
335% |
| 08/31/2011 | 405% - Actual | 339% |
| 08/25/2011 | 389% - Actual 389% - Pro forma* |
326% |
| 08/18/2011 | 393% - Actual 393% - Pro forma* |
329% |
| 08/11/2011 | 399% - Actual 399% - Pro forma* |
335% |
| 08/04/2011 | 379% - Actual 379% - Pro forma* |
321% |
| 07/31/2011 | 421% - Actual | 354% |
| 07/28/2011 | 422% - Actual 417% - Pro forma* |
354% |
| 07/21/2011 | 426% - Actual 426% - Pro forma** |
358% |
| 07/14/2011 | 420% - Actual 395% - Pro forma* |
353% |
| 07/07/2011 | 432% - Actual 432% - Pro forma* |
364% |
| 06/30/2011 | 428% - Actual | 360% |
| 06/23/2011 | 421% - Actual 421% - Pro forma* |
354% |
| 06/16/2011 | 412% - Actual 412% - Pro forma* |
347% |
| 06/09/2011 | 419% - Actual 404% - Pro forma* |
352% |
| 06/02/2011 | 407% - Actual 433% - Pro forma* |
345% |
| 05/31/2011 | 412% - Actual | 349% |
| 05/26/2011 | 407% - Actual 407% - Pro forma* |
345% |
| 05/19/2011 | 408% - Actual 408% - Pro forma* |
346% |
| 05/12/2011 | 398% - Actual 425% - Pro forma* |
339% |
| 05/05/2011 | 406% - Actual 400% - Pro forma* |
344% |
| 04/30/2011 | 425% - Actual | 359% |
| 04/28/2011 | 453% - Actual 443% - Pro forma* |
377% |
| 04/21/2011 | 448% - Actual 448% - Pro forma* |
373% |
| 04/14/2011 | 445% - Actual 435% - Pro forma* |
369% |
| 04/07/2011 | 469% - Actual 473% - Pro forma* |
386% |
| 03/31/2011 | 469% - Actual | 385% |
| 03/24/2011 | 498% - Actual 505% - Pro forma** |
402% |
| 03/17/2011 | 538% - Actual | 426% |
| 03/10/2011 | 603% - Actual 576% - Pro forma* |
463% |
*The pro forma ratio assumes KMF's outstanding debt balance is reduced by cash plus (a) dividends and distributions receivable from portfolio investments and (b) receivable for securities sold less (y) accrued operating expenses and (z) payable for securities purchased on KMF's statement of assets and liabilities as of such measurement date.
**The pro forma ratio assumes that the common dividend has been paid and KMF's outstanding debt balance is reduced by cash plus (a) dividends and distributions receivable from portfolio investments and (b) receivable for securities sold less (y) accrued operating expenses and (z) payable for securities purchased on KMF's statement of assets and liabilities as of such measurement date.
| Short-Term Borrowings | Commitment Available | Current Borrowings | Rate | Maturity |
|---|---|---|---|---|
| Revolving Credit Facility | $ 100,000,000 | $ 95,000,000 | 30-day LIBOR + 175 bps | 1/20/2014 |
| Senior Notes | CUSIP | Principal Outstanding | Rate | Maturity |
|---|---|---|---|---|
| A | 48661E A*9 | 55,000,000 | 3.93% | 3/03/2016 |
| B | 48661E A@7 | 60,000,000 | 4.62% | 3/03/2018 |
| C | 48661E A#5 | 50,000,000 | 4.00% | 3/22/2022 |
| $ 165,000,000 | ||||
| Mandatory Redeemable Preferred Stock | CUSIP | Current Borrowings | Rate | Maturity |
|---|---|---|---|---|
| A | 48661E 2*8 | $ 35,000,000 | 5.32% | 3/03/2018 |
| B | 48661E 3*7 | 30,000,000 | 4.50% | 3/22/2020 |
| $ 65,000,000 | ||||
| TOTAL | $ 325,000,000 |