HOUSTON--(BUSINESS WIRE)--Kayne Anderson Energy Total Return Fund, Inc.(NYSE:KYE) announced that it reached a conditional agreement with an institutional investor relating to a private placement of $20 million of Mandatory Redeemable Preferred Shares. The Series C MRP Shares will mature five years from issuance and pay quarterly cash dividends at a rate of 3.36% per annum. Net proceeds will be used to refinance existing leverage and for general corporate purposes. The private placement is expected to close and fund on or about September 7, 2016. The closing is subject to confirmatory due diligence, legal documentation and other standard closing conditions.