FS KKR Capital Corp 8-K

What Happened
FS KKR Capital Corp (FSK) announced on June 8, 2026 that it entered into a Sixteenth Supplemental Indenture and issued $900,000,000 aggregate principal amount of 7.500% notes due August 1, 2031. The transaction closed June 8, 2026. The notes are general unsecured obligations, pay interest at 7.500% per year semi‑annually (Feb 1 and Aug 1, beginning Feb 1, 2027), and may be redeemed at the company’s option at prescribed redemption prices.

Key Details

• Amount issued: $900,000,000 principal of 7.500% notes due Aug 1, 2031.
• Net proceeds: approx. $890.0 million after underwriting discounts/commissions of $9.0 million and estimated offering expenses of ~$1.0 million.
• Ranking: unsecured and pari passu with other unsecured, unsubordinated debt; senior to any expressly subordinated debt; effectively junior to secured debt to the extent of collateral; structurally junior to subsidiaries’ indebtedness.
• Covenants and protections: includes asset coverage covenant tied to the Investment Company Act provisions, reporting/financial information delivery obligations if FSK ceases Exchange Act reporting, and a change‑of‑control repurchase requirement (offer at 100% of principal plus accrued interest).
• Offering details: registered under Form N‑2 (File No. 333‑282226); prospectus supplement dated June 1, 2026; pricing term sheet filed June 2, 2026. A company press release about the issuance was filed as Exhibit 99.1.

Why It Matters
This filing notifies investors that FSK has raised substantial unsecured long‑term debt, increasing interest obligations (7.5% coupon) and financial flexibility through roughly $890M in available proceeds. The company intends to use the proceeds for general corporate purposes, including potentially repaying borrowings under its credit facilities and certain notes, which could affect its overall leverage and near‑term cash interest needs. The notes’ ranking and covenants (including change‑of‑control repurchase and asset coverage provisions) describe holders’ legal rights relative to other creditors and may be relevant when assessing credit risk.