Welcome to our dedicated page for FS KKR Capital news (Ticker: FSK), a resource for investors and traders seeking the latest updates and insights on FS KKR Capital stock.
FS KKR Capital Corp. (NYSE: FSK) is a prominent business development company (BDC) in the United States, specializing in providing customized credit solutions to private middle market U.S. companies. The company primarily invests in senior secured loans and second lien secured loans, with a focus on companies boasting an annual EBITDA of at least $50 million at the time of investment.
Core Business
FSK's core business revolves around offering financial solutions to private upper middle-market companies through senior secured debt and, to a lesser extent, subordinated debt and asset-based financing loans. This approach helps bridge the gap for companies needing tailored financial support to fuel their growth and operational needs.
Recent Achievements
- FSK announced plans to release its third quarter 2023 results on November 6, 2023, followed by a conference call on November 7, 2023, to discuss the results.
- On November 6, 2023, FSK declared a fourth quarter 2023 distribution of $0.70 per share, complemented by a special distribution, totaling $0.75 per share.
- FSK completed a $400 million offering of 7.875% unsecured notes due 2029 on November 21, 2023.
- For the first quarter of 2024, FSK declared a distribution of $0.70 per share, along with a special distribution, bringing it to $0.75 per share.
- In June 2024, FSK completed a $600 million offering of 6.875% unsecured notes due 2029.
Financial Condition and Partnerships
FSK is advised by FS/KKR Advisor, LLC, a partnership between FS Investments and KKR Credit. FS Investments manages over $79 billion in assets across a range of clients, including institutional investors, financial professionals, and individual investors. KKR Credit is a subsidiary of KKR & Co. Inc., a global investment firm managing diverse alternative asset classes.
Current Projects
FSK continually engages in financial activities to support its growth and investor returns. Upcoming projects include releasing their fourth quarter and full year 2023 results on February 26, 2024, along with a conference call to discuss these results on February 27, 2024. Additionally, FSK has scheduled the release of their first quarter 2024 results on May 8, 2024, with a conference call on May 9, 2024.
Products
FSK offers various credit products, including senior secured loans, second lien secured loans, subordinated loans, and asset-based financing loans. These products are tailored to meet the financial needs of private middle-market companies, facilitating their growth and operational efficiency.
Significance
FSK plays a crucial role in the U.S. financial ecosystem by providing essential credit solutions to private middle-market companies, thereby supporting their growth and operational requirements. With its solid financial foundation and strategic partnerships, FSK is well-positioned to continue delivering significant value to its stockholders.
FS KKR Capital Corp. (NYSE: FSK) announced its Q2 2024 results and declared a Q3 2024 distribution of $0.70 per share. Key highlights include:
- Net investment income of $0.77 per share
- Adjusted net investment income of $0.75 per share
- Net asset value of $23.95 per share
- Total net realized and unrealized loss of $0.39 per share
- Earnings per Share of $0.37
- Total purchases of $1,260 million vs $1,336 million of sales and repayments
- Net debt to equity ratio at 109%
The company's total fair value of investments was $14.1 billion, with 66% invested in senior secured securities. The weighted average annual yield on accruing debt investments was 12.3%. FSK's board expects to distribute a minimum of $2.90 per share during 2024.
FS KKR Capital Corp. (NYSE: FSK) has announced its schedule for the release of second quarter 2024 results. The company plans to disclose its financial performance after the New York Stock Exchange closes on Tuesday, August 6, 2024. Following this, FSK will host a conference call at 9:00 a.m. (Eastern Time) on Wednesday, August 7, 2024, to discuss the results in detail.
Interested parties can participate in the live conference call by registering through a provided URL. The call will also be webcast and accessible from the Investor Relations section of FSK's website. Additionally, an investor presentation of financial information will be available on the company's website after market close on August 6. A replay of the call will be made available shortly after its conclusion.
FS KKR Capital Corp. (NYSE: FSK) announced the completion of its $600 million public offering of 6.875% unsecured notes due 2029. The offering was managed by a consortium of financial institutions including BofA Securities, BMO Capital Markets, J.P. Morgan, KKR Capital Markets, and others. The company plans to use the net proceeds for general corporate purposes, potentially including repaying existing debts. This move does not represent an offer to sell or buy the notes in any jurisdiction where such offers are prohibited.
On May 31, 2024, FS KKR Capital Corp. (NYSE: FSK) announced a $600 million public offering of 6.875% unsecured notes due 2029. The notes are set to mature on August 15, 2029, and can be redeemed at par one month prior to maturity, or earlier with a 'make-whole' premium. The offering, managed by several leading financial institutions, is expected to close on June 6, 2024. FSK plans to use the net proceeds for general corporate purposes, including repaying existing debts. This announcement is part of a broader strategy to manage their financial structure and obligations.
FS KKR Capital Corp. announced its financial results for the quarter ended March 31, 2024, with a second-quarter distribution of $0.70 per share, totaling $0.75 per share including a special distribution. The company reported net investment income of $0.76 per share, net asset value of $24.32 per share, and earnings per share of $0.62. FSK's board declared a cash distribution for the second quarter and highlighted a total fair value of investments at $14.2 billion as of March 31, 2024.
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