Corporate ActionMay 11, 2026, 07:02 AM
FS KKR Capital Announces Strategic Actions, Q1 Results; NAV $18.83
AI Summary
FS KKR Capital Corp announced Q1 2026 financial results and several strategic value enhancement actions. KKR Alternative Assets L.P. will invest $150 million in newly issued cumulative convertible perpetual preferred stock. Concurrently, a KKR subsidiary intends to commence a $150 million fixed-price tender offer for FSK common stock at $11.00 per share. The company also authorized a $300 million share repurchase program and KKR agreed to waive 50% of the subordinated income incentive fee for four quarters. Q1 results showed a net asset value of $18.83 per share, down from $20.89.
Key Highlights
- KKR affiliate to invest $150 million in cumulative convertible perpetual preferred stock.
- KKR subsidiary to launch $150 million fixed-price tender offer for FSK common stock at $11.00 per share.
- FS KKR Capital authorized a $300 million share repurchase program.
- KKR to waive 50% of its subordinated income incentive fee for four consecutive quarters.
- Q1 2026 Net investment income was $0.42 per share, down from $0.48 in Q4 2025.
- Q1 2026 Net asset value was $18.83 per share, down from $20.89 in Q4 2025.
- Q1 2026 Total net realized and unrealized loss was $2.00 per share.
- Declared a Q2 2026 distribution of $0.42 per share.