FS KKR divides $300 million commitment, extends to 2026

By Wendy Van Sickle

Columbus, Ohio, Nov. 17 – FS KKR Capital Corp. amended its loan and servicing agreement dated Dec. 2, 2015 on Monday to extend each of the reinvestment period and maturity date to Dec. 1, 2023 and June 2, 2026, respectively, according to an 8-K filing with the Securities and Exchange Commission.

Additionally, the total $300 million was bifurcated to include a $200 million term loan and a $100 million revolver, and SOFR was introduced to replace Libor as an index for borrowings.

Interest now accrues at SOFR plus a margin of 190 basis points for term loans and 205 bps for revolver advances.

There is a commitment fee of 50 bps on unused revolver commitments.

Sumitomo Mitsui Banking Corp. is the administrative agent for the credit agreement.

The Philadelphia-based business development company invests mainly in senior secured and subordinated debt of private middle-market U.S. companies.

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