FS KKR Capital prices $900 million debt offering with 7.5% yield

FS KKR Capital Corp. (NYSE: FSK) priced an underwritten public offering of $900 million in 7.500% unsecured notes due 2031, the company announced. The notes will mature on August 1, 2031 and may be redeemed in whole or in part at the company's option at any time at par plus a make-whole premium, with redemption at par available three months prior to maturity.

The offering is expected to close on June 8, 2026, subject to customary closing conditions. BofA Securities, BMO Capital Markets, J.P. Morgan Securities, KKR Capital Markets, RBC Capital Markets, and SMBC Nikko Securities America are serving as joint book-running managers for the offering.

FSK plans to use the net proceeds for general corporate purposes, including potentially repaying outstanding debt under credit facilities and certain notes. The company operates as a business development company focused on providing credit solutions to private middle market U.S. companies, primarily investing in senior secured debt and subordinated loans.

The offering includes participation from multiple financial institutions as joint lead managers, including HSBC Securities, ING Financial Markets, Mizuho Securities USA, MUFG Securities Americas, TD Securities, Truist Securities, Barclays Capital, BNP Paribas Securities, CIBC World Markets, Citigroup Global Markets, Goldman Sachs, Morgan Stanley, SG Americas Securities, UBS Securities and Standard Chartered Bank.

FSK is advised by FS/KKR Advisor, a partnership between Future Standard and KKR Credit that serves as investment adviser to the company and other business development companies, according to the press release.

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