FS KKR unit amends loan agreement to extend maturity, lift margin

By Mary-Katherine Stinson

Lexington, Ky., July 3 – FS KKR Capital Corp.’s wholly owned subsidiary, Meadowbrook Run LLC, entered a fifth amendment to its loan and servicing agreement dated Nov. 22, 2019 to extend each of the revolving period and maturity date to Nov. 22, 2024 and Nov. 22, 2026, respectively, according to an 8-K filing with the Securities and Exchange Commission.

Additionally, the applicable margin was increased to 270 basis points during the revolving period and 320 bps during the amortization period.

The amendment also provides for an interest-only loan with a 0.15% annual interest rate.

The call protection period was extended for one year after closing, and non-dollar advances were eliminated.

Morgan Stanley Senior Funding, Inc 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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