New Issue: FS KKR Capital prices $400 million 7.875% notes due 2029

Chicago, Nov. 13 – FS KKR Capital Corp. priced $400 million of 7.875% notes due Jan. 15, 2029 (Baa3/BBB-//Kroll: BBB) on Monday, according to an FWP filing with the Securities and Exchange Commission.

The notes priced at 99.319 to yield 8.032%, or at Treasuries plus 337.5 basis points.

The notes feature a Treasuries plus 50 bps make-whole call option until one month prior to maturity and then a par call option.

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.

Also underwriting the notes as joint lead managers were Barclays, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and SG Americas Securities, LLC.

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.

Issuer:	FS KKR Capital Corp.
Amount:	$400 million
Issue:	Notes
Maturity:	Jan. 15, 2029
Bookrunners:	BofA Securities, Inc., BMO Capital Markets Corp., J.P. Morgan Securities LLC, KKR Capital Markets LLC, SMBC Nikko Securities America, Inc., Truist Securities, Inc., 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
Joint lead managers:	Barclays, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and SG Americas Securities, LLC
Co-managers:	Compass Point Research & Trading, LLC, ICBC Standard Bank plc, Keefe, Bruyette & Woods, Inc., Oppenheimer & Co. Inc., R. Seelaus & Co., LLC and U.S. Bancorp Investments, Inc.
Trustee:	U.S. Bank Trust Co., NA
Counsel to issuer:	Dechert LLP and Miles & Stockbridge PC
Counsel to underwriters:	Ropes & Gray LLP
Coupon:	7.875%
Price:	99.319
Yield:	8.032%
Spread:	Treasuries plus 337.5 bps
Call features:	Make-whole call at Treasuries plus 50 bps; one-month par call
Trade date:	Nov. 13
Settlement date:	Nov. 21
Ratings:	Moody’s: Baa3
	S&P: BBB-
	Kroll: BBB
Distribution:	SEC registered
Cusip:	302635AM9

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