By Cristal Cody
Tupelo, Miss., July 19 – FS KKR Capital Corp. (Baa3//BBB-) priced a $175 million add-on to its 4.75% notes due May 15, 2022 on Friday at a spread of 250 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at 101.207 to yield 4.274%.
The bonds were originally issued in a $275 million offering on April 30, 2015. The total outstanding is now $450 million.
J.P. Morgan Securities LLC, SunTrust Robinson Humphrey, Inc. and SMBC Nikko Securities America, Inc. were the bookrunners.
Proceeds will be used to repay outstanding debt under the company’s financing arrangements.
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: | $175 million reopening
|
| Description: | Notes
|
| Maturity: | May 15, 2022
|
| Bookrunners: | J.P. Morgan Securities LLC, SunTrust Robinson Humphrey, Inc. and SMBC Nikko Securities America, Inc.
|
| Coupon: | 4.75%
|
| Price: | 101.207
|
| Yield: | 4.274%
|
| Spread: | Treasuries plus 250 bps
|
| Call features: | Make-whole call at price equal to greater of par or Treasuries plus 50 bps; at par on or after April 15, 2022
|
| Trade date: | July 19
|
| Settlement date: | July 26
|
| Ratings: | Moody’s: Baa3
|
| Fitch: BBB-
|
| Distribution: | SEC registered
|
| Total outstanding: | $450 million, including $275 million of notes issued April 30, 2015
|
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