PHILADELPHIA and NEW YORK, Aug. 9,
2018 /PRNewswire/ -- FS/KKR Advisor, LLC (FS/KKR), a
partnership between FS Investments and KKR Credit that serves as
the investment adviser to six business development companies
(BDCs), announced today that a new $3.435
billion, five-year senior secured omnibus revolving credit
facility that matures in August 2023
has closed. The new omnibus revolver refinances certain previously
existing credit facilities and provides individual borrowing
capacity for each of FS Investment Corporation (NYSE: FSIC), FS
Investment Corporation II (FSIC II), FS Investment Corporation III
(FSIC III) and Corporate Capital Trust (NYSE: CCT). Over 20 lenders
participated in this new facility, with JPMorgan Chase Bank, N.A.
as administrative agent and ING Capital LLC as collateral agent.
JPMorgan Chase Bank N.A., ING Capital LLC, BMO Capital Markets
Corp. and SunTrust Robinson Humphrey Inc. are the Joint Lead
Arrangers and Joint Bookrunners.
"We are very pleased with the level of commitment to our
platform from such a large and strong syndicate of lenders," said
Michael Forman, Chief Executive
Officer of FSIC and CCT. "This new omnibus revolving credit
facility will provide our funds with additional financial
flexibility at a lower cost and allows us to optimize our liability
structure and platform."
"Today's announcement highlights the strength of the FS/KKR
partnership and represents an important milestone as we continue to
focus on delivering value to our collective shareholders and
investors," said Todd Builione,
President of FSIC and CCT.
About FS/KKR Advisor, LLC
FS/KKR is a partnership
between FS Investments and KKR Credit that serves as the investment
adviser to six BDCs, including FS Investment Corporation, FS
Investment Corporation II, FS Investment Corporation III, FS
Investment Corporation IV, Corporate Capital Trust, Inc. and
Corporate Capital Trust II.
FS/KKR seeks to leverage the size of its platform,
differentiated origination capabilities and expertise in capital
markets to maximize returns and preserve capital for investors.
FS Investments is a leading asset manager dedicated to helping
individuals, financial professionals and institutions design better
portfolios. The firm provides access to alternative sources of
income and growth and focuses on setting industry standards for
investor protection, education and transparency. FS Investments is
headquartered in Philadelphia, PA
with offices in New York, NY,
Orlando, FL and Washington, DC. Visit www.fsinvestments.com to
learn more.
KKR Credit is a subsidiary of KKR & Co. Inc., a leading
global investment firm that manages multiple alternative asset
classes, including private equity, energy, infrastructure, real
estate and credit, with strategic manager partnerships that manage
hedge funds. KKR aims to generate attractive investment returns for
its fund investors by following a patient and disciplined
investment approach, employing world-class people, and driving
growth and value creation with KKR portfolio companies. KKR invests
its own capital alongside the capital it manages for fund investors
and provides financing solutions and investment opportunities
through its capital markets business. References to KKR's
investments may include the activities of its sponsored funds. For
additional information about KKR & Co. Inc. (NYSE: KKR), please
visit KKR's website at www.kkr.com and on Twitter @KKR_Co.
About FSIC
FSIC is a publicly traded BDC focused on providing customized
credit solutions to private middle market U.S. companies. FSIC
seeks to invest primarily in the senior secured debt and, to a
lesser extent, the subordinated debt of private middle market
companies to achieve the best risk-adjusted returns for its
investors. FSIC is advised by FS/KKR Advisor, LLC. For more
information, please visit www.fsinvestmentcorp.com.
About FSIC II and FSIC III
FSIC II and FSIC III are publicly registered, non-traded BDCs
focused on providing customized credit solutions to private middle
market U.S. companies. FSIC II and FSIC III seek to invest
primarily in the senior secured debt and, to a lesser extent, the
subordinated debt of private middle market companies to achieve the
best risk-adjusted returns for their investors. FSIC II and FSIC
III are advised by FS/KKR Advisor, LLC. For more information,
please visit www.fsinvestments.com.
About Corporate Capital Trust
CCT is a BDC
that provides investors an opportunity to access middle market
direct lending investments. CCT is externally managed
by FS/KKR Advisor, LLC, and its investment objective is to
provide shareholders with current income and, to a lesser extent,
long-term capital appreciation. CCT intends to meet its investment
objective by investing primarily in the debt of privately owned
companies, with a focus on originated transactions. For additional
information, please visit www.corporatecapitaltrust.com.
Media (FS Investments / FSIC):
Marc Yaklofsky
media@fsinvestments.com
Investor Relations (FSIC):
Marc Yaklofsky
marc.yaklofsky@fsinvestments.com
Media (KKR / CCT)
Kristi Huller or Cara Kleiman
Major
media@kkr.com
212-750-8300
Investor Relations (CCT):
Danny McMahon
CCT-IR@kkr.com
Forward-Looking Statements
This press release may
contain certain forward-looking statements, including statements
with regard to the future performance or operations of FSIC, FSIC
II, FSIC III and CCT. Words such as "believes," "expects,"
"projects" and "future" or similar expressions are intended to
identify forward-looking statements. These forward-looking
statements are subject to the inherent uncertainties in predicting
future results and conditions. Certain factors could cause actual
results to differ materially from those projected in these
forward-looking statements, and some of these factors are
enumerated in the filings FSIC, FSIC II, FSIC III and CCT make with
the U.S. Securities and Exchange Commission. FSIC, FSIC II, FSIC
III and CCT undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE FS/KKR Advisor, LLC
