FS KKR Capital plans to sell fixed-rate notes due 2029

By Mary-Katherine Stinson

Lexington, Ky., Nov. 13 – FS KKR Capital Corp. intends to sell fixed-rate notes due 2029, according to a 424B2 filed with the Securities and Exchange Commission.

The notes feature a make-whole call until one month prior to maturity and then a par call.

A change of control will make the notes putable at par.

BofA Securities, Inc., BMO Capital Markets Corp., J.P. Morgan Securities LLC, KKR Capital Markets LLC, SMBC Nikko Securities America, Inc. and Truist Securities, Inc. are leading the sale. HSBC Securities (USA) Inc., ING Financial Markets LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc., RBC Capital Markets LLC and TD Securities (USA) LLC are also bookrunners.

U.S. Bank Trust Co., NA is the trustee.

Dechert LLP is counsel to FS KKR. Miles & Stockbridge PC will advise the issuer as to matters of Maryland law. Ropes & Gray LLP is counsel for the underwriters.

Proceeds will be used for general corporate purposes, including debt repayment under the company’s credit facilities and certain notes.

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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