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 Q1 2022 results, reporting a net investment income of $0.77 per share, up from $0.66 in Q4 2021. The board declared a cash distribution of $0.68 per share for Q2 2022, payable on July 5, 2022, to stockholders on record by June 15, 2022. As of March 31, 2022, the company's net asset value increased to $27.33 per share, while total investments rose to $16.6 billion. The net debt-to-equity ratio stood at 112%, highlighting a robust financial position.
FS KKR Capital Corp. (NYSE: FSK) will release its first quarter 2022 results on May 9, 2022, after the market closes. A conference call is scheduled for May 10, 2022, at 9:00 a.m. ET to discuss these results, accessible via phone and webcast. An investor presentation will be available on FSK's website post the earnings release. FSK focuses on providing customized credit solutions to private middle market U.S. companies, primarily investing in senior secured and subordinated debt.
FS KKR Capital Corp. (NYSE: FSK) announced that Daniel Pietrzak, Co-President and Chief Investment Officer, will participate in a BDC panel at the 2022 RBC Capital Markets Global Financial Institutions Conference on March 8, 2022, at 2:00 PM ET. A live audio webcast will be accessible through FSK's Investor Relations website under Events. FSK primarily invests in senior secured and subordinated debt of private middle market U.S. companies.
FS KKR Capital Corp. (FSK) reported its financial results for Q4 and full-year 2021, highlighting a net investment income of $0.66 per share and a net asset value of $27.17 per share. The company declared a cash distribution of $0.63 per share for Q1 2022, payable on April 4, 2022. FSK achieved a total net realized and unrealized gain of $4.40 per share for 2021, marking a significant improvement from a loss in 2020. The firm also increased its fair value of investments to $16.1 billion, with 71% in senior secured securities and an 8.6% rise in net asset value over the year.
FS KKR Capital Corp. (NYSE: FSK) plans to release its fourth quarter and full year 2021 results on February 28, 2022, after market close. A conference call to discuss these results will take place on March 1, 2022, at 9:00 a.m. ET. Interested participants can join by dialing (833) 818-6808 with conference ID 6349774. The call will also be accessible via webcast from FSK's website. An investor presentation will be available post-market close on February 28. FSK focuses on providing customized credit solutions to private middle market U.S. companies.
FS KKR Capital Corp. (NYSE: FSK) announced the successful completion of its $500 million offering of 3.250% unsecured notes due 2027. The offering was managed by multiple financial institutions, including BofA Securities and J.P. Morgan. The net proceeds will be used for general corporate purposes, primarily to repay existing indebtedness. This move aims to strengthen FSK’s financial position, allowing for enhanced flexibility in managing debt obligations.
FS KKR Capital Corp. (NYSE: FSK) has announced a public offering of $500,000,000 in 3.250% unsecured notes due 2027. The offering is expected to close on January 18, 2022. Proceeds from the offering will be used for general corporate purposes, including potentially repaying outstanding debt. The notes can be redeemed at par one month before maturity and may be subject to a 'make-whole' premium. Various financial institutions are acting as joint book-running and lead managers for this offering.
FS KKR Capital Corp. (FSK) reported a net investment income of $201 million or $0.71 per share for Q3 2021, down from $0.77 in Q2. The net asset value (NAV) increased to $27.14 per share, up 1.1% from $26.84. Total purchases for the quarter were $2.8 billion, significantly exceeding sales of $1.8 billion. The company declared a $0.62 per share dividend for Q4, exceeding initial expectations. Despite a robust liquidity position with $1.25 billion in unsecured notes issued, the annual yield on accruing debt investments fell to 9.1%.
FS KKR Capital Corp. (NYSE: FSK) plans to release its third quarter 2021 results on November 8, 2021, after market close. A conference call is scheduled for November 9, 2021, at 9:00 a.m. ET, where it will discuss the results. Investors can participate by dialing (833) 818-6808 or via a webcast on FSK's Investor Relations website. An investor presentation will also be available on the same date. FSK specializes in providing customized credit solutions to private middle-market U.S. companies, primarily investing in senior secured debt.
On October 12, 2021, FS KKR Capital Corp. (FSK) announced the completion of its offering of $500 million in 1.650% unsecured notes due 2024 and $750 million in 3.125% unsecured notes due 2028. Proceeds will be used to redeem all 5.00% senior notes due 2022 on November 11, 2021, and to repay outstanding debt. Joint book-running managers include BofA Securities and J.P. Morgan, among others. FSK is focused on providing credit solutions to private middle market companies.
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