FSK | FS KKR Capital Corp.

FSK | FS KKR Capital Corp.

FSK | FS KKR Capital Corp.

FS/KKR Advisor, LLC manages FS KKR Capital Corp. (NYSE: FSK), publicly traded business development company (BDC) focused on providing customized credit solutions to private middle market U.S. companies. We seek to invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S. companies to achieve the best risk-adjusted returns for our investors.

Q2 2022 Earnings results

Portfolio

as of June 30, 2022, and based on fair value unless otherwise noted

192

Portfolio companies1

18%

Fair value in top 10 portfolio companies2

87%

Of debt investments are floating rate4

9.2%

Weighted average annual yield  on accruing debt investments5

71%

Of investments in senior secured debt2

$81M/6.1x

Median portfolio company EBITDA & leverage3

2.9%

Non-accrual rate

~85%

Lead, co-lead or sole origination6


Key facts

Distribution frequency1

Quarterly

Inception date

9/18/2008

Listing date

4/16/2014

Merger date

6/16/2021

1 The timing and amount of any future distributions on FSK’s shares of common stock are subject to applicable legal restrictions and the sole discretion of its board of directors. There can be no assurance as to the amount or timing of any such future distributions.

View important footnotes + disclosures
  • Does not look through to FSK’s portfolio companies held solely in COPJV.
  • Figure excludes the impact of FSK’s investment in COPJV.
  • Based on underlying Direct Origination corporate investments using most recently reported financial information and may include pro forma adjustments. Certain Asset Based Finance, Equity/Other and portfolio companies with negative or de minimis EBITDA are excluded.
  • See FSK’s Quarterly Report on Form 10-Q for its definition of debt investments.
  • Excludes the impact of the Merger. See FSK’s Quarterly Report on Form 10-Q for additional information on the calculation of weighted average annual yield on accruing debt investments. On a GAAP basis, FSK’s weighted average annual yield on accruing debt investments was 9.9% as of June 30, 2022.
  • Figure based on fair value of Direct Origination investments only. KKR & BDC accounts’ participation, KKR Capital Markets’ involvement, and deal teams leading the negotiations/structuring are all considered when determining the Origination Role.