FS KKR Capital Corp

FS KKR Capital Corp. is an externally managed, non-diversified, closed-end management investment and finance company that invests primarily in the debt securities of private middle market U.S. companies. Its objectives are to generate current income and, to a lesser extent, long-term capital appreciation. The company was founded by Michael Craig Forman on December 21, 2007 and is headquartered in Philadelphia, PA.

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FS KKR Capital Corp surpasses earnings expectations, eyes growth opportunities

FS KKR Capital Corp delivered strong performance in Q3, exceeding income guidance and maintaining a robust distribution yield.
The company's focus on disciplined underwriting, ample liquidity, and senior secured investments positions it well for growth.
Challenges related to debt management and credit trends require careful monitoring, but opportunities in M&A and asset-based finance are promising.
Overall, FSK's prudent investment strategies and optimistic outlook for 2025 signal a positive trajectory for the company.

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NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns a rating of BBB to FS KKR Capital Corp.'s (“FSK” or “the company”) $100 million, 6.125% senior unsecured notes due January 15, 2030, which are an add-on to the $600 million, 6.125% senior unsecured notes with original settlement date of November 20, 2024. The rating Outlook is Stable. The proceeds will be used for general corporate purposes and for repayment of existing indebtedness. Key Credit Considerations The rating and Stable Outlook are supported by.

KBRA Assigns Rating to FS KKR Capital Corp.'s $100 Million Senior Unsecured Notes Due 2030

PHILADELPHIA and NEW YORK , Dec. 20, 2024 /PRNewswire/ -- FS KKR Capital Corp. (NYSE: FSK) announced that it has priced an underwritten public offering of an additional $100 million in aggregate principal amount of its 6.125% notes due 2030 (the "Notes") pursuant to a reopening of such 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.

FSK Prices Public Offering of $100 million 6.125% Unsecured Notes Due 2030

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FS KKR Capital Corp investors have outperformed the S&P 500 since my previous update, validating my bullish thesis. FSK's ability to outperform its business development company, or BDC, peers suggests the market was too pessimistic. Its portfolio remains well-poised to benefit from a higher for longer Fed, notwithstanding the peak in interest rates.

FS KKR Capital: Silences The Naysayers While Paying A 13% Yield

FS KKR Capital focuses on debt investments in US middle-market businesses with annual EBITDA between $50m and $150m, emphasizing long-term, defensive strategies. The company prioritizes stable, cash flow generating businesses, with nearly 60% of investments in senior secured, first-lien loans. FSK's conservative approach is evident in its low non-accruals at fair value, which stand at 1.7%.

FS KKR Capital: Reviewing Dividend Safety With Updated Data And Market Conditions

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FS KKR Capital Corp offers a dividend yield exceeding 13%, making it attractive for income investors despite recent valuation increases. With a market cap of around $6 billion, FS KKR is one of the larger BDCs, lending to upper-middle market companies. Risks exist, but FS KKR Capital's substantial yield and market position warrant a closer look for income-focused investors.

Despite Strong Gains, FS KKR's Yield Is Still A Massive 13%

FS KKR Capital's (FSK) portfolio quality has improved with a decrease in non-accrual rates, indicating higher average credit quality and strong earnings supporting a 13% dividend yield. The portfolio is diversified, with 67% in senior secured debt, and operates on a floating rate basis, sensitive to interest rate changes. Despite a slight decrease in NAV, FSK's management is actively investing in new deals.

FS KKR Capital: Improved Portfolio Quality, Strong Dividend Coverage

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FS KKR Capital's improving asset quality and reduced non-performing loans have narrowed its discount to net asset value, making it an attractive investment. FS KKR Capital is a top 4 BDC in terms of market cap and has managed to lower its non-accrual percentage. FS KKR Capital's 13% yield is well-supported by net investment income, with a 7% discount to NAV still offering value for dividend investors.

FS KKR Capital: A 13% Yield And Repricing Upside

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PHILADELPHIA and NEW YORK , Nov. 20, 2024 /PRNewswire/ -- FS KKR Capital Corp. (NYSE: FSK) today announced that it has completed its previously announced offering of $600 million in aggregate principal amount of its 6.125% unsecured notes due 2030 (the "Notes"). BofA Securities, Inc., BMO Capital Markets Corp., J.P.

FSK Completes Public Offering of $600 million 6.125% Unsecured Notes Due 2030

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The Dividend Harvesting Portfolio rebounded strongly post-election, with profitability increasing by $688.50, resulting in a 27.13% return on invested capital. I added to positions in Realty Income, Starwood Property Trust, and FS KKR Capital Corp, focusing on their strong dividend yields and growth potential. The portfolio's diversification strategy mitigates risk and enhances income, with a goal of generating $1,875 in forward dividend income by December.

Dividend Harvesting Portfolio Week 193: $19,300 Allocated, $1,844.97 In Projected Dividends

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.

FSK Prices Public Offering of $600 million 6.125% Unsecured Notes Due 2030

NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns a rating of BBB to FS KKR Capital Corp.'s (“FSK” or “the company”) $600 million, 6.125% senior unsecured notes due January 15, 2030. The rating Outlook is Stable. The proceeds will be used for general corporate purposes and for repayment of existing indebtedness. Key Credit Considerations The rating and Stable Outlook are supported by FS KKR Capital Corp.'s ties to KKR & Co.'s $589 billion AUM investment platform, including a $242 billion credit platf.

KBRA Assigns Rating to FS KKR Capital Corp.'s $600 Million Senior Unsecured Notes

FSK has been my favorite BDC pick for 2024. It has paid off nicely so far. Based on Q3, 2024 results, it is clear that the opportunity is still there.

FS KKR: It Is Time To Forget The Past And Lock In 12 - 14% Dividends

FS KKR Capital Corp (NYSE:FSK ) Q3 2024 Earnings Conference Call November 7, 2024 9:00 AM ET Company Participants Anna Kleinhenn - Head of Investor Relations Michael Forman - Chief Executive Officer and Chairman Dan Pietrzak - Co-President and Chief Investment Officer Brian Gerson - Co-President Steven Lilly - Chief Financial Officer Conference Call Participants Bryce Rowe - B. Riley Securities Casey Alexander - Compass Point John Hecht - Jefferies Mark Hughes - Truist Kenneth Lee - RBC Melissa Wedel - JPMorgan Operator Good morning, ladies and gentlemen.

FS KKR Capital Corp (FSK) Q3 2024 Earnings Call Transcript

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.

FS KKR Capital (FSK) Q3 Earnings and Revenues Beat Estimates

PHILADELPHIA and NEW YORK , Nov. 6, 2024 /PRNewswire/ -- FS KKR Capital Corp. (NYSE: FSK), or the Company, today announced its financial and operating results for the quarter ended September 30, 2024, and that its board of directors previously, on October 8, 2024, declared a fourth quarter 2024 distribution of $0.70 per share. Financial and Operating Highlights for the Quarter Ended September 30, 2024 (1) Net investment income of $0.77 per share, compared to $0.77 per share for the quarter ended June 30, 2024 Adjusted net investment income(2) of $0.74 per share, compared to $0.75 per share for the quarter ended June 30, 2024 Net asset value of $23.82 per share, compared to $23.95 per share as of June 30, 2024 Total net realized and unrealized loss of $0.20 per share, compared to a total net realized and unrealized loss of $0.39 per share for the quarter ended June 30, 2024 Adjusted net realized and unrealized loss(2) of $0.17 per share, compared to adjusted net realized and unrealized loss of $0.37 per share for the quarter ended June 30, 2024 Earnings per Share of $0.57, compared to Earnings per Share of $0.37 for the quarter ended June 30, 2024 Total purchases of $1,136 million versus $1,321 million of sales and repayments, including $370 million of sales to the Company's joint venture Credit Opportunities Partners JV, LLC Net debt to equity ratio(3) as of September 30, 2024 was 109%, compared to 109% as of June 30, 2024 Paid cash distributions to stockholders totaling $0.70 per share(4) "During the third quarter FSK outperformed its public guidance by earning $0.74 per share of Adjusted Net Investment Income.

FS KKR Capital Corp. Announces Third Quarter 2024 Results

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The Fed has started to cut rates. Further rate reductions could lead to FSK's debt investments becoming more valuable. FSK trades at a 15.91% discount to NAV and if rates decline and debt appreciates, then it should increase FSK's NAV and push the share price higher. FSK continues to pay a special distribution on top of the $2.56 base distribution, and the amount of NII generated could allow FSK to pay special distributions into 2025.

FS KKR: 15.91% Discount To NAV, Yields Around 14%, And One Of My Favorite BDCs

FS KKR Capital is a business development company with a focus on debt investments across middle-market US companies originated through its Adviser's broad network. FSK's regular DPS coverage amounted to ~120% as of June 2024. However, one has to remember that we already witnessed one interest rate cut, and there's likely more to come. I believe that shareholders will benefit from some additional payments along the way - at least until we approach a further 150 bps cut.

FS KKR Capital: Quality BDC, But I'm Not Buying

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News for FS KKR Capital Corp ETF (FSK)