By Cristal Cody
Tupelo, Miss., July 8 – FS KKR Capital Corp. (Baa3//BBB-) priced an upsized $400 million of 4.625% five-year notes on Monday at a spread of 287.5 basis points over Treasuries, according to a market source.
The deal was upsized from $300 million.
Price guidance was in the Treasuries plus 287.5 bps to 300 bps area.
J.P. Morgan Securities LLC, SunTrust Robinson Humphrey, Inc., BMO Capital Markets Corp., SMBC Nikko Securities America, Inc., ING Financial Markets LLC, Mizuho Securities USA LLC, MUFG, RBC Capital Markets, LLC and KKR Capital Markets LLC were the bookrunners.
The company held fixed income investor calls on June 27 for the registered offering.
Proceeds will be used to repay outstanding debt under the company’s financing arrangements.
FS KKR also closed in June on a debut $507.5 million middle-market collateralized loan obligation called FS KKR MMC CLO 1 Ltd./FS KKR CLO 1 LLC.
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
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| Description: | Notes
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| Maturity: | July 15, 2024
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| Bookrunners: | J.P. Morgan Securities LLC, SunTrust Robinson Humphrey, Inc., BMO Capital Markets Corp., SMBC Nikko Securities America, Inc., ING Financial Markets LLC, Mizuho Securities USA LLC, MUFG, RBC Capital Markets, LLC and KKR Capital Markets LLC
|
| Coupon: | 4.625%
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| Spread: | Treasuries plus 287.5 bps
|
| Change-of-control put: | Par
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| Trade date: | July 8
|
| Ratings: | Moody’s: Baa3
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| S&P: BBB-
|
| Distribution: | SEC registered
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| Price guidance: | Treasuries plus 287.5 bps to 300 bps area
|
| Marketing: | Fixed income investor calls
|
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