PHILADELPHIA, Nov. 13, 2019 /PRNewswire/ -- FS KKR Capital
Corp. (NYSE: FSK) announced that it has priced an underwritten
public offering of $425,000,000 in
aggregate principal amount of its 4.125% unsecured notes due 2025
(the "Notes"). The Notes will mature on February 1, 2025 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
November 20, 2019, subject to
customary closing conditions.
J.P. Morgan Securities LLC, MUFG Securities Americas Inc., RBC
Capital Markets, LLC, SMBC Nikko Securities America, Inc., SunTrust
Robinson Humphrey, Inc., BMO Capital Markets Corp., Citigroup
Global Markets Inc., Goldman Sachs & Co. LLC, HSBC Securities
(USA) Inc., ING Financial Markets
LLC, KKR Capital Markets LLC and Mizuho Securities USA LLC are acting as joint book-running
managers for this offering. Barclays Capital Inc., BofA Securities,
Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and
Morgan Stanley & Co. LLC are acting as joint lead managers for
this offering. ICBC Standard Bank Plc, SG Americas Securities, LLC,
BNP Paribas Securities Corp., Keefe, Bruyette & Woods, Inc. and
U.S. Bancorp Investments, Inc. are acting as co-managers for this
offering.
FSK expects to use the net proceeds of this offering to repay
outstanding indebtedness under its financing arrangements,
including its 4.250% Notes due 2020.
Other Information
Investors are advised to carefully consider the investment
objectives, risks, charges and expenses of FSK before investing.
The pricing term sheet dated November 13,
2019, the preliminary prospectus supplement dated
November 13, 2019, and the
accompanying prospectus dated May 3,
2019, 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 from J.P. Morgan Securities LLC
at 212-834-4533; MUFG Securities Americas Inc. toll-free at (877)
649-6848; RBC Capital Markets, LLC toll-free at 1-866-375-6829;
SMBC Nikko Securities America, Inc. at 1-888-868-6856 or
prospectus@smbcnikko-si.com; or
SunTrust Robinson Humphrey, Inc. at
STRHdocs@SunTrust.com
or (800) 685-4786.
About FS KKR Capital Corp.
FSK is a 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 to achieve the best risk-adjusted
returns for its investors. 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
BDCs with approximately $17 billion
in assets under management as of June 30, 2019. The BDCs
managed by FS/KKR include FSK, FS Investment Corporation II, FS
Investment Corporation III, FS Investment Corporation IV and
Corporate Capital Trust II.
FS Investments is a leading asset manager dedicated to helping
individuals, financial professionals and institutions design better
portfolios. The firm provides access to alternative sources of
income and growth, and focuses on setting industry standards for
investor protection, education and transparency. FS Investments is
headquartered in Philadelphia, PA
with offices in New York, NY,
Orlando, FL and Washington, DC.
KKR Credit is a subsidiary of KKR & Co. Inc., a leading
global investment firm that manages multiple alternative asset
classes, including private equity, energy, infrastructure, real
estate and credit, with strategic manager partnerships that 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 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 Important Disclosure
Notice
This announcement may contain certain forward-looking
statements, including statements with regard to future events or
the 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 or natural
disasters, 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
Melanie.Hemmert@fsinvestments.com
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SOURCE FS KKR Capital Corp.