PHILADELPHIA, Dec. 3, 2020 /PRNewswire/ -- FS KKR Capital
Corp. (NYSE: FSK) announced that it has priced an underwritten
public offering of $1,000,000,000 in aggregate principal amount
of its 3.400% unsecured notes due 2026 (the "Notes"). The Notes
will mature on January 15, 2026 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 December 10,
2020, subject to customary closing conditions.
BofA Securities, Inc., BMO Capital Markets Corp., ING Financial
Markets LLC, MUFG Securities Americas Inc., SMBC Nikko Securities
America, Inc., Truist Securities, Inc., J.P. Morgan Securities LLC,
Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Mizuho Securities USA LLC and KKR Capital Markets LLC are acting
as joint book-running managers for this offering. Citigroup Global
Markets Inc., Goldman Sachs & Co. LLC, RBC Capital Markets,
LLC, Barclays Capital Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC are
acting as joint lead managers for this offering. BNP Paribas
Securities Corp., SG Americas Securities, LLC, Compass Point
Research & Trading, LLC, ICBC Standard Bank Plc, R. Seelaus
& Co., LLC, 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.
Investors are advised to carefully consider the investment
objectives, risks, charges and expenses of FSK before investing.
The pricing term sheet dated December 3,
2020, the preliminary prospectus supplement dated
December 3, 2020, 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 BofA Securities, Inc.,
NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus
Department, email: email@example.com; BMO
Capital Markets Corp., 3 Times Square, New York, NY 10036, Attn: Debt Capital Markets
Syndicate, tel: 1-866-864-7760; ING Financial Markets LLC, 1133
Avenue of the Americas, New York,
NY 10036, Attn: Investment Grade Syndicate Desk, fax:
646-424-6248, email: DCM.NewYork@ING.COM; MUFG Securities Americas
Inc., 1221 Avenue of the Americas, Sixth Floor, New York, NY 10020; SMBC Nikko Securities
America, Inc., 277 Park Avenue, New York,
NY 10172, Attn: Debt Capital Markets tel: 888-868-6856,
email: firstname.lastname@example.org; and Truist Securities, Inc.,
303 Peachtree Street, Atlanta, GA
30308, Attn: Prospectus Department, tel: 800-685-4786, email:
About FS KKR Capital Corp.
FS KKR Capital Corp. (NYSE: FSK) is a leading 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.
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 $15 billion in assets under management as of
September 30, 2020. The BDCs managed
by FS/KKR are FSK and FS KKR Capital Corp. II (NYSE: FSKR).
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, Washington, DC and Leawood, KS.
KKR Credit is a subsidiary of KKR & Co. Inc., a leading
global investment firm that manages multiple alternative asset
classes, including private equity, credit and real assets, 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
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, 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.
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