Core Points - FS KKR Capital Corp. plans to release its fourth quarter and full year 2024 results on February 26, 2025, after the market closes [1] - A conference call to discuss these results will be held on February 27, 2025, at 9:00 a.m. Eastern Time, accessible via live webcast [2] - Investors can access a financial presentation and a replay of the call on the company's Investor Relations website [4] Company Overview - FS KKR Capital Corp. is a publicly traded business development company (BDC) that provides customized credit solutions to private middle market U.S. companies, primarily focusing on senior secured debt [5] - FS/KKR Advisor, LLC serves as the investment adviser to FS KKR Capital Corp. [6] - FS Investments, a partner in FS/KKR, manages over $83 billion in assets and offers a range of alternative asset classes and strategies [7] - KKR Credit, a subsidiary of KKR & Co. Inc., focuses on generating attractive investment returns through a disciplined investment approach [8]

Group 1 - High yield investing can be particularly beneficial for retirees seeking income to cover monthly expenses [1] - The focus is on building investment portfolios of high-quality, dividend-paying companies for lower and middle-class workers [1] - The investment strategy emphasizes a buy-and-hold approach, prioritizing quality over quantity [1] Group 2 - The analyst has a beneficial long position in shares of ARCC, BXSL, and CSWC [2] - The article reflects the author's personal opinions and is not influenced by compensation from companies mentioned [2] - There is no business relationship with any company whose stock is discussed in the article [2]

Core Viewpoint - FS KKR Capital Corp. has successfully completed an offering of an additional $100 million in 6.125% notes due 2030, increasing the total amount of this series to $700 million [1]. Group 1: Company Overview - FS KKR Capital Corp. is a publicly traded business development company (BDC) that focuses on providing customized credit solutions to private middle market U.S. companies [10]. - The company primarily invests in senior secured debt and, to a lesser extent, subordinated debt of private middle market companies [10]. - FS KKR is advised by FS/KKR Advisor, LLC, a partnership between FS Investments and KKR Credit [11]. Group 2: Financial Details - The recent offering of notes adds to the previously issued $600 million of the same notes, which were issued on November 20, 2024 [1]. - The total outstanding principal amount of the 6.125% notes due 2030 is now $700 million following this additional issuance [1]. - The net proceeds from this offering are intended for general corporate purposes, including potentially repaying outstanding indebtedness under credit facilities and certain notes [9]. Group 3: Investment Management - FS Investments, the parent company, manages over $83 billion in assets for a diverse range of clients, including institutional investors and individual investors [3]. - The firm provides access to a broad suite of alternative asset classes and strategies through its investment teams and partners [3]. - KKR, as a strategic partner, aims to generate attractive investment returns through a disciplined investment approach and supports growth in its portfolio companies [6].

Core Viewpoint - FS KKR Capital Corp. (FSK) has announced a public offering of an additional $100 million in 6.125% notes due 2030, aimed at general corporate purposes including potential debt repayment [5]. Company Overview - FSK is a leading publicly traded business development company (BDC) that focuses on providing customized credit solutions to private middle market U.S. companies, primarily investing in senior secured debt and subordinated debt [4]. - The company is advised by FS/KKR Advisor, LLC, a partnership between FS Investments and KKR Credit [9]. Offering Details - The notes will mature on January 15, 2030, and can be redeemed at par plus a "make-whole" premium, with the option to redeem at par one month prior to maturity [5]. - The offering is expected to close on December 27, 2024, subject to customary closing conditions [5]. - Joint book-running managers for this offering include BofA Securities, Inc., BMO Capital Markets Corp., J.P. Morgan Securities LLC, KKR Capital Markets LLC, SMBC Nikko Securities America, Inc., and Truist Securities, Inc. [6]. Additional Information - FSK's shelf registration statement is effective upon filing with the SEC, and interested investors can access the prospectus and related documents through the SEC's EDGAR database [3]. - FS Investments, the parent company of FS/KKR, manages over $83 billion in assets and provides a range of alternative asset classes and strategies [14].

Group 1 - FS KKR Capital Corp. has completed an offering of $600 million in 6.125% unsecured notes due 2030 [1] - The net proceeds from this offering will be used for general corporate purposes, including potentially repaying outstanding indebtedness [2] - FS KKR Capital Corp. is a publicly traded business development company focused on providing customized credit solutions to private middle market U.S. companies [3] Group 2 - FS/KKR Advisor, LLC serves as the investment adviser to FS KKR Capital Corp. and other business development companies [4] - FS Investments manages over $82 billion in assets and provides access to a broad suite of alternative asset classes and strategies [5] - KKR is a leading global investment firm that offers alternative asset management and aims to generate attractive investment returns [6]

PHILADELPHIA and NEW YORK, Nov. 13, 2024 /PRNewswire/ -- FS KKR Capital Corp. (NYSE: FSK) announced that it has priced an underwritten public offering of $600 million in aggregate principal amount of its 6.125% unsecured notes due 2030 (the "Notes"). The Notes will mature on January 15, 2030 and may be redeemed in whole or in part at FSK's option at any time at par plus a "make-whole" premium, provided that the Notes may be redeemed at par one month prior to their maturity. The offering is expected to close ...

Financial Data and Key Metrics Changes - FSK generated net investment income of $0.77 per share and adjusted net investment income of $0.74 per share, exceeding guidance of approximately $0.72 and $0.70 per share respectively [10] - The net asset value per share at the end of Q3 2024 was $23.82, down from $23.95 at the end of Q2 2024 [40] - Total investment income increased by $2 million to $441 million, with total interest income rising by $3 million to $356 million [37] Business Line Data and Key Metrics Changes - FSK originated approximately $1.1 billion of new investments during Q3 2024, with 57% focused on add-on financings to existing portfolio companies [12][21] - New investments consisted of approximately 84% in first-lien loans and 16% in asset-based finance investments [21] - The weighted average yield on accruing debt investments decreased by 50 basis points to 11.5% [33] Market Data and Key Metrics Changes - The U.S. economy has experienced a 6.8% growth rate in real terms since the Fed began raising rates in early 2022 [16] - Inflation has declined from 9.1% in June 2022 to approximately 2.4% today, supporting consumer spending [17] - The M&A environment is expected to improve significantly in 2025, with increased middle market deal volumes [18] Company Strategy and Development Direction - FSK is well-positioned to capitalize on expected market conditions, focusing on new investment opportunities and rotating out of legacy portfolio companies [13][14] - The company maintains a high bar on credit quality and a disciplined underwriting process [12] - FSK continues to see compelling opportunities in asset-based finance as banks reposition their portfolios due to regulatory requirements [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the outlook for new investment opportunities and the potential for a very active year in 2025 [49] - The company noted that while the M&A pipeline is growing, it has been slower to start than anticipated [76] - Management highlighted that revenue and EBITDA growth in the portfolio has been positive but slower than in previous years [77] Other Important Information - Non-accruals represented 3.8% of the portfolio on a cost basis, down from 4.3% in Q2 2024 [26] - The company has approximately $1.2 billion of unsecured notes maturing in 2025, representing about 10% of total debt commitments [47] - FSK's available liquidity was $4.4 billion at the end of Q3 2024 [45] Q&A Session Summary Question: Impact of lower rates and spread compression on yields - Management indicated that the yield compression of 50 basis points was due to both lower rates and spread compression [51] Question: Dividend coverage and spillover income - Management confirmed that spillover income is sufficient to bridge any gaps in dividend coverage, with nearly three quarters of spillover available [56] Question: PIK income expectations - Management expects PIK income to remain around 15% for the next couple of quarters, with half of the PIK income being regular business [61] Question: M&A pipeline growth expectations - Management believes the M&A pipeline will grow, driven by pressure from LPs to return capital and the availability of dry powder in private equity [74] Question: Credit outlook and revenue trends - Management noted that revenue and EBITDA growth has been slower than in previous years, but overall trends remain positive [77] Question: Repricing activity trends - Management observed that repricing activity has been slower, with spreads settling at certain levels [85] Question: Asset-based finance opportunities - Management highlighted that asset-based finance deals are typically keyed off bank or capital market rates, with targeted returns in the mid-teens [98]

FS KKR Capital (FSK) came out with quarterly earnings of $0.74 per share, beating the Zacks Consensus Estimate of $0.70 per share. This compares to earnings of $0.80 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.71%. A quarter ago, it was expected that this business development company would post earnings of $0.71 per share when it actually produced earnings of $0.75, delivering a surprise of 5.63%.Over the last four quart ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock FSK New York Stock Exchange FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): October 9, 2024 FS KKR Capital Corp. (Exact name of Registrant as specified in its charter) Maryland 814-00757 26-1630040 (State or other jurisdiction of incorporation) (Comm ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________________________________ FORM 10-Q _________________________________________________ xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2024 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 COMMISSION FILE NUMBER: 814-00757 ________________________________________________ ...