PHILADELPHIA and NEW
YORK, May 31, 2024 /PRNewswire/ -- FS KKR
Capital Corp. (NYSE: FSK) announced that it has priced an
underwritten public offering of $600
million in aggregate principal amount of its 6.875%
unsecured notes due 2029 (the "Notes"). The Notes will mature on
August 15, 2029 and may be redeemed
in whole or in part at FSK's option at any time at par plus a
"make-whole" premium, provided that the Notes may be redeemed at
par one month prior to their maturity. The offering is expected to
close on June 6, 2024, subject to
customary closing conditions.
BofA Securities, Inc., BMO Capital Markets Corp., J.P. Morgan
Securities LLC, KKR Capital Markets LLC, SMBC Nikko Securities
America, Inc., Truist Securities, Inc., HSBC Securities
(USA) Inc., ING Financial Markets
LLC, Mizuho Securities USA LLC,
MUFG Securities Americas Inc., RBC Capital Markets, LLC and TD
Securities (USA) LLC are acting as
joint book-running managers for this offering. Barclays Capital
Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc.,
Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Morgan
Stanley & Co. LLC and SG Americas Securities, LLC are acting as
joint lead managers for this offering. B. Riley Securities, Inc.,
Compass Point Research & Trading, LLC, ICBC Standard Bank Plc,
Keefe, Bruyette & Woods, Inc., R. Seelaus & Co., LLC and
U.S. Bancorp Investments, Inc. are acting
as co-managers for this offering.
FSK intends to use the net proceeds of this offering for general
corporate purposes, including potentially repaying outstanding
indebtedness under credit facilities and certain notes.
Other Information
Investors are advised to carefully consider the investment
objectives, risks, charges and expenses of FSK before investing.
The pricing term sheet dated May 30,
2024, the preliminary prospectus supplement dated
May 30, 2024, and the accompanying
prospectus dated October 4, 2021,
each of which has been filed with the U.S. Securities and Exchange
Commission (the "SEC"), contain this and other information about
FSK and should be read carefully before investing.
The information in the pricing term sheet, the preliminary
prospectus supplement, the accompanying prospectus and this press
release is not complete and may be changed. The pricing term sheet,
the preliminary prospectus supplement, the accompanying prospectus
and this press release are not offers to sell any securities of FSK
and are not soliciting an offer to buy such securities in any state
or jurisdiction where such offer and sale is not permitted.
FSK's shelf registration statement is on file and was deemed
immediately effective upon filing with the SEC. Before you invest,
you should read the prospectus in that registration statement, the
preliminary prospectus supplement and other documents FSK has filed
with the SEC for more complete information about FSK and this
offering. You may get these documents for free by visiting EDGAR on
the SEC Web site at www.sec.gov. Alternatively, FSK, any
underwriter or any dealer participating in the offering will
arrange to send you the prospectus supplement and accompanying
prospectus if you request it, by calling BofA Securities, Inc. at
1-800-294-1322; BMO Capital Markets Corp.
at 1-866-864-7760; J.P. Morgan Securities LLC
at 1-212-834-4533; KKR Capital Markets LLC
at 1-212-230-9433; SMBC Nikko Securities America, Inc.
at 1-888-868-6856; or Truist Securities, Inc. at
1-800-685-4786.
About FS KKR Capital Corp.
FSK is a leading publicly traded business development company
(BDC) focused on providing customized credit solutions to private
middle market U.S. companies. FSK seeks to invest primarily in the
senior secured debt and, to a lesser extent, the subordinated debt
of private middle market companies. FSK is advised by FS/KKR
Advisor, LLC.
About FS/KKR Advisor, LLC
FS/KKR Advisor, LLC (FS/KKR) is a partnership between FS
Investments and KKR Credit that serves as the investment adviser to
FSK and other business development companies.
FS Investments is a global alternative asset manager dedicated
to delivering superior performance and innovative investment and
capital solutions. The firm manages over $79
billion in assets for a wide range of clients, including
institutional investors, financial professionals and individual
investors. FS Investments provides access to a broad suite of
alternative asset classes and strategies through
its best-in-class investment teams and partners. With its
diversified platform and flexible capital solutions, the firm is a
valued partner to general partners, asset owners and portfolio
companies. FS Investments is grounded in its high-performance
culture and guided by its commitment to building value for its
clients, investing in its colleagues and giving back to its
communities. The firm has more than 500 employees across offices in
the U.S., Europe and Asia and is headquartered in Philadelphia.
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and supporting growth in its portfolio
companies and communities. KKR sponsors investment funds that
invest in private equity, credit and real assets and has strategic
partners that manage hedge funds. KKR's insurance subsidiaries
offer retirement, life and reinsurance products under the
management of Global Atlantic Financial Group. References to KKR's
investments may include the activities of its sponsored funds and
insurance subsidiaries.
Forward-Looking Statements and Important Disclosure
Notice
This announcement may contain certain forward-looking
statements, including statements with regard to future events or
future performance or operations of FSK. Words such as "believes,"
"expects," "projects," and "future" or similar expressions are
intended to identify forward-looking statements. These
forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions. Certain
factors could cause actual results to differ materially from those
projected in these forward-looking statements. Factors that could
cause actual results to differ materially include changes in the
economy, risks associated with possible disruption in FSK's
operations or the economy generally due to
terrorism, geo-political risks, natural disasters or
pandemics such as COVID-19, future changes in laws or
regulations and conditions in FSK's operating area and the price at
which shares of FSK's common stock trade on the New York Stock
Exchange. Some of these factors are enumerated in the filings FSK
makes with the SEC. FSK undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Contact Information:
Investor Relations Contact
Robert Paun
Robert.Paun@fsinvestments.com
Media Contact
Melanie Hemmert
media@fsinvestments.com
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SOURCE FS KKR Capital Corp.