Published on 11/14/2019 in the Prospect News Investment Grade Daily.
New Issue: FS KKR Capital gives details on $425 million 4.125% notes due 2025
By Devika Patel
Knoxville, Tenn., Nov. 14 – FS KKR Capital Corp. (Baa3//BBB-) offered further details about a $425 million sale of 4.125% notes due Feb. 1, 2025 that priced on Wednesday, according to an FWP filed with the Securities and Exchange Commission.
The notes priced at 99.153 to yield 4.306%, or Treasuries plus 262.5 basis points.
J.P. Morgan Securities LLC, MUFG, RBC Capital Markets, LLC, SMBC Nikko Securities America, Inc., SunTrust Robinson Humphrey, Inc., BMO Capital Markets Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., ING Financial Markets LLC, KKR Capital Markets LLC and Mizuho Securities USA LLC were the bookrunners.
Joint lead managers were Barclays, BofA Securities, Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC.
Proceeds will be used to repay outstanding debt under the company’s financing arrangements, including its 4.25% notes due 2020.
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: | $425 million
|
| Description: | Notes
|
| Maturity: | Feb. 1, 2025
|
| Bookrunners: | J.P. Morgan Securities LLC, MUFG, RBC Capital Markets, LLC, SMBC Nikko Securities America, Inc., SunTrust Robinson Humphrey, Inc., BMO Capital Markets Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., ING Financial Markets LLC, KKR Capital Markets LLC and Mizuho Securities USA LLC
|
| Joint lead managers: | Barclays, BofA Securities, Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC
|
| Co-managers: | ICBC Standard Bank plc, SG Americas Securities, LLC, BNP Paribas Securities Corp., Keefe, Bruyette & Woods, Inc. and U.S. Bancorp Investments, Inc.
|
| Coupon: | 4.125%
|
| Price: | 99.153
|
| Yield: | 4.306%
|
| Spread: | Treasuries plus 262.5 bps
|
| Call: | Make-whole call at Treasuries plus 40 bps until Jan. 1, 2025, then a par call
|
| Trade date: | Nov. 13
|
| Settlement date: | Nov. 20
|
| Distribution: | SEC registered
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
