By Cristal Cody
Chicago, Oct. 4 – FS KKR Capital Corp. sold $1.25 billion of notes in two parts on Monday, a market participant reported.
The company sold $500 million of 1.65% three-year notes, priced at Treasuries plus 120 basis points. The notes priced below initial price talk in the 145 bps over Treasuries area.
The company also sold $750 million of 3.125% seven-year notes at Treasuries plus 190 bps, 20 bps lower than initial talk which had them in the 210 bps area.
The 2024 notes have a make-whole call. The 2028 notes feature a make-whole call and then a par call, according to a 424B2 filed with the Securities and Exchange Commission on Monday morning.
BofA Securities Inc., BMO Capital Markets Corp., KKR Capital Markets LLC, MUFG and Truist Securities Inc. are the bookrunners.
Proceeds will be used for general corporate purposes, including debt repayment.
The Philadelphia-based business development company invests mainly in senior secured and subordinated debt of private middle-market U.S. companies.
| Issuer: | FS KKR Capital Corp.
|
| Issue: | Notes
|
| Amount: | $1.25 billion
|
| Bookrunners: | BofA Securities Inc., BMO Capital Markets Corp., KKR Capital Markets LLC, MUFG and Truist Securities Inc.
|
| Trade date: | Oct. 4
|
|
|
| 2024 notes
|
| Amount: | $500 million
|
| Maturity: | Oct. 12, 2024
|
| Coupon: | 1.65%
|
| Spread: | Treasuries plus 120 bps
|
| Call features: | Make-whole call
|
| Price talk: | Treasuries plus 145 bps area
|
|
|
| 2028 notes
|
| Amount: | $750 million
|
| Maturity: | Oct. 12, 2028
|
| Coupon: | 3.125%
|
| Spread: | Treasuries plus 190 bps
|
| Call features: | Make-whole call then par call
|
| Price talk: | Treasuries plus 210 bps area
|
|
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