FS KKR tenders for any and all of $405 million 4.25% notes due 2020

By Sarah Lizee

Olympia, Wash., Nov. 13 – FS KKR Capital Corp. launched a cash tender offer for any and all of its $405 million of 4.25% notes due 2020, according to a press release.

The offer will expire at 5 p.m. ET on Nov. 19.

The consideration will be $1,001.50 per $1,000 of notes.

Holders will also receive accrued interest.

Settlement is expected for Nov. 20.

Tenders may be withdrawn before the expiration time.

The tender offer is conditioned on FS KKR completing an offering of new senior notes in an amount sufficient to effect the repurchase of the 2020 notes in the tender offer and to redeem any remaining notes.

Any notes that remain outstanding following the tender offer will be redeemed on Dec. 16 at par plus accrued interest up to but excluding the redemption date.

J.P. Morgan Securities LLC (212 834-8553 collect or 866 834-4666 toll-free) is the dealer manager, and D.F. King & Co., Inc. (fsk@dfking.com, 212 269-5550 for banks and brokers or 866 796-1290 all others) is the tender agent.

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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