Posted: October 12, 2021 at 10:10 p.m. EDT|Update: 1 hour ago
PHILADELPHIA CREAM, 12 October 2021 / PRNewswire / – FS KKR Capital Corp. (“FSK”) announced today that it has finalized its previously announced offer (the “Offer”) of $ 500,000,000 in the aggregate principal amount of its 1.650% unsecured notes due 2024 (the “2024 Notes”) and $ 750,000,000 the total principal amount of its 3.125% unsecured notes due 2028 (the “2028 Notes” and, together with the 2024 Notes, the “Notes”). BofA Securities, Inc., BMO Capital Markets Corp., KKR Capital Markets LLC, MUFG Securities Americas Inc., Truist Securities, Inc., ING Financial Markets LLC, JP Morgan Securities LLC, SMBC Nikko Securities America, Inc., HSBC Securities (United States) Inc. and Mizuho Securities United States LLC is acting as co-book manager for this offering. RBC Capital Markets, LLC, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Santander Investment Securities Inc. and SG Americas Securities, LLC are acting as co-leader of this offer. Barclays Capital Inc., Credit Suisse Securities (United States) LLC, Compass Point Research & Trading, LLC, ICBC Standard Bank Plc, R. Seelaus & Co., LLC, Keefe, Bruyette & Woods, Inc. and US Bancorp Investments, Inc. are acting as co-managers for this offering.
At 12 October 2021, FSK has issued a redemption notice providing for the full redemption of its 5.00% senior bonds due 2022 (the “2022 bonds”) on November 11, 2021 (the “Redemption Date”) for 100% of the total principal amount of the 2022 Bonds, plus accrued and unpaid interest up to, but excluding, the Redemption Date (the “Redemption”). All 2022 Notes will be reimbursed as part of the Redemption.
FSK expects to use a portion of the net proceeds of the Offer to fund the Buyback, including the payment of all accrued interest and costs and expenses related to the Buyback. The remainder of the net proceeds of the Offer will be used to repay outstanding debt under FSK’s financing arrangements.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy the Securities, and there will be no offer, solicitation or sale in any state or jurisdiction where such offer, solicitation or sale would be illegal. .
About FS KKR Capital Corp.
FS KKR Capital Corp. (NYSE: FSK) is a leading publicly traded Business Development Company (BDC) focused on providing personalized lending solutions to private mid-market US businesses. FSK seeks to invest primarily in senior secured debt and, to a lesser extent, subordinated debt of private mid-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 which serves as an investment advisor to FSK.
FS Investments is a leading asset manager dedicated to helping individuals, financial professionals and institutions design better portfolios. The company provides access to alternative sources of income and growth, and is focused on setting industry standards for investor protection, education and transparency. FS Investments is headquartered at Philadelphia, Pennsylvania with offices in New York, New York State, Orlando, Florida and Leawood, KS.
KKR Credit is a subsidiary of KKR & Co. Inc., a leading global investment firm that manages several alternative asset classes, including private equity, credit and real assets, with manager partnerships who manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people and driving growth and value creation with the KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds.
Forward-Looking Statements and Material Disclosure Notice
This announcement may contain certain forward-looking statements, including statements regarding future events or the future performance or operations of FSK. Words such as “believes”, “expects”, “plans” and “in the future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the uncertainties inherent in forecasting 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 of FSK operations or the economy in general due to terrorism, natural disasters or pandemics such as as COVID-19, future changes in laws or regulations and conditions in FSK’s area of operation and the price at which FSK common shares trade on the New York Stock Exchange. Some of these factors are listed in documents filed by FSK with the SEC. FSK assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.
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