BDC Quick Recap: FS KKR (FSK)
BDC Quick Recap: FS KKR (FSK) as of December 31st, 2022
FS KKR (FSK) filed its earnings yesterday and data was available in SOLVE’s BDC workstation within minutes. Here is a quick recap of the credit stats for FS KKR (FSK) for the three-month period ended Dec. 31st, 2022.
Portfolio Stats
| FMV | $15.4B |
| # of Investments | 446 |
| Total unused commitments to extend financing | $952.4M |
| Portfolio Companies | 205 |
| Portfolio Composition | |
|---|---|
| First Lien | 58.90% |
| Second Lien | 9.00% |
| Equity and Other | 32.10% |
Source: SOLVE Fixed Income, FS KKR (FSK)
Portfolio Credit Quality
| Non-Accruals Cost | $791.5M |
| # of Non-Accruals | 17 |
| # of Portfolio at Cost | 4.90% |
| New Non-Accruals | Gracent LLC |
Source: SOLVE Fixed Income, FS KKR (FSK)
Select New Originations
| Company | Investment Type | Industry | Cost | Maturity | Coupon |
|---|---|---|---|---|---|
| Zendesk Inc | Senior Secured Loans-First Lien | Software & Services | $57.5M | 11/22/2028 | S+650 |
| Solina France SASU | Senior Secured Loans-First Lien | Food, Beverage & Tobacco | $38.8M | 7/31/2028 | S+650 |
| TeamSystem SpA | Senior Secured Loans-First Lien | Software & Services | $18.9M | 2/15/2028 | E+625 |
Source: SOLVE Fixed Income, FS KKR (FSK)
Exits & Sales
| Company | Investment Type | Industry | Net Proceeds | Maturity | Coupon |
|---|---|---|---|---|---|
| Premium Credit Ltd | Senior Secured Loans-First Lien | Diversified Financials | $73.1M | 1/16/2026 | SN+650 |
| Propulsion Acquisition LLC | Senior Secured Loans-First Lien | Capital Goods | $57.3M | 7/13/2024 | L+700 |
Source: SOLVE Fixed Income, FS KKR (FSK)
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