FSK Completes Public Offering of $100 million 6.125% Unsecured Notes Due 2030
FS KKR Capital Corp (NYSE: FSK) has completed a public offering of $100 million in 6.125% unsecured notes due 2030. This issuance is an addition to the previously issued $600 million of 6.125% notes from November 20, 2024, bringing the total series to $700 million. The offering was managed by multiple financial institutions, including BofA Securities, BMO Capital Markets, J.P. Morgan Securities, KKR Capital Markets, SMBC Nikko Securities America, and Truist Securities. FSK plans to use the proceeds for general corporate purposes, which may include repaying existing debt under credit facilities and certain notes.
FS KKR Capital Corp (NYSE: FSK) ha completato un'offerta pubblica di 100 milioni di dollari in note non garantite al 6.125% con scadenza nel 2030. Questa emissione si aggiunge ai 600 milioni di dollari di note al 6.125% emesse il 20 novembre 2024, portando il totale della serie a 700 milioni di dollari. L'offerta è stata gestita da diverse istituzioni finanziarie, tra cui BofA Securities, BMO Capital Markets, J.P. Morgan Securities, KKR Capital Markets, SMBC Nikko Securities America e Truist Securities. FSK prevede di utilizzare i proventi per scopi aziendali generali, che possono includere il rimborso di debiti esistenti sotto linee di credito e alcune note.
FS KKR Capital Corp (NYSE: FSK) ha completado una oferta pública de 100 millones de dólares en notas no garantizadas de 6.125% que vencen en 2030. Esta emisión se suma a los 600 millones de dólares en notas del 6.125% emitidas el 20 de noviembre de 2024, llevando el total de la serie a 700 millones de dólares. La oferta fue gestionada por varias instituciones financieras, incluyendo BofA Securities, BMO Capital Markets, J.P. Morgan Securities, KKR Capital Markets, SMBC Nikko Securities America y Truist Securities. FSK planea utilizar los ingresos para fines corporativos generales, que pueden incluir el reembolso de deudas existentes bajo facilidades de crédito y ciertas notas.
FS KKR 캐피탈 코프 (NYSE: FSK)는 2030년 만기 6.125% 무담보 채권 1억 달러의 공개 발행을 완료했습니다. 이번 발행은 2024년 11월 20일에 발행된 6억 달러의 6.125% 채권에 추가된 것으로, 총 시리즈 금액은 7억 달러에 이릅니다. 이 발행은 BofA 증권, BMO 캐피탈 마켓, JP 모건 증권, KKR 캐피탈 마켓, SMBC 닛코 증권 아메리카, 그리고 Truist 증권 등 여러 금융 기관이 관리했습니다. FSK는 이 수익금을 일반 기업 목적에 사용할 계획이며, 여기에는 기존 채무의 상환 및 특정 채권이 포함될 수 있습니다.
FS KKR Capital Corp (NYSE: FSK) a achevé une offre publique de 100 millions de dollars en obligations non sécurisées à 6.125% arrivant à échéance en 2030. Cette émission s'ajoute aux 600 millions de dollars d'obligations à 6.125% émises le 20 novembre 2024, portant le total de la série à 700 millions de dollars. L'offre a été gérée par plusieurs institutions financières, y compris BofA Securities, BMO Capital Markets, J.P. Morgan Securities, KKR Capital Markets, SMBC Nikko Securities America et Truist Securities. FSK prévoit d'utiliser le produit pour des fins corporatives générales, ce qui peut inclure le remboursement de dettes existantes sous des lignes de crédit et certaines obligations.
FS KKR Capital Corp (NYSE: FSK) hat eine öffentliche Angebotsaktion von 100 Millionen US-Dollar in unbesicherten Anleihen mit 6,125% Rendite und Fälligkeit im Jahr 2030 abgeschlossen. Diese Emission ist eine Ergänzung zu den zuvor ausgegebenen 600 Millionen US-Dollar an 6,125% Anleihen vom 20. November 2024, was die Gesamtsumme der Reihe auf 700 Millionen US-Dollar bringt. Das Angebot wurde von mehreren Finanzinstituten verwaltet, darunter BofA Securities, BMO Capital Markets, J.P. Morgan Securities, KKR Capital Markets, SMBC Nikko Securities America und Truist Securities. FSK plant, die Erlöse für allgemeine Unternehmenszwecke zu verwenden, was die Rückzahlung bestehender Schulden unter Kreditfazilitäten und bestimmten Anleihen umfassen kann.
- Successfully raised $100 million through notes offering
- Maintains consistent access to debt capital markets
- Potential debt refinancing could optimize capital structure
- Increases total debt burden by $100 million
- 6.125% interest rate adds to ongoing debt service costs
Insights
This debt offering strengthens FSK's financial position through a strategic
The intended use of proceeds for general corporate purposes and debt refinancing suggests a proactive liability management approach. By potentially refinancing existing debt, FSK could optimize its debt maturity profile and possibly reduce interest expenses if retiring higher-cost debt. The participation of major financial institutions as joint book-runners adds credibility to the offering.
For simpler understanding: Think of this like refinancing a house mortgage - FSK is borrowing money at what they consider a good interest rate, which they might use to pay off other loans that could have higher interest rates. This helps them manage their debt better and possibly save money in the long run.
This additional notes offering demonstrates FSK's ability to access capital markets effectively, a important aspect for BDCs' growth and portfolio management. The successful expansion of the existing notes series suggests strong institutional investor demand and confidence in FSK's business model and credit quality.
The timing and structure of this offering are particularly noteworthy given the current market environment. By tapping an existing notes series rather than creating a new one, FSK likely achieved better pricing and execution efficiency. The involvement of top-tier investment banks in the distribution suggests broad market reach and institutional support.
In simpler terms: FSK is showing it can raise money when needed, which is like having a good credit score that lets you borrow money easily. The fact that they're adding to an existing loan instead of starting a new one usually means they're getting better terms, similar to getting a better deal on a loan because you're a returning customer.
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.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy any of the Notes, nor shall there be any offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
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
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
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
Anna Kleinhenn
Anna.Kleinhenn@fsinvestments.com
FS Investments Media Team
Melanie Hemmert
Melanie.Hemmert@fsinvestments.com
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SOURCE FS Investments
FAQ
What is the total value of FSK's 2030 notes after the new issuance?
What is the interest rate on FSK's newly issued 2030 notes?
How does FSK plan to use the proceeds from the $100 million notes offering?
Which investment banks managed FSK's 2030 notes offering?
When did FSK issue the original $600 million in 2030 notes?
