BDCs
BDC Quick Recap: FS KKR (FSK) as of March 31st, 2023
FS KKR (FSK) filed its earnings this morning 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 March 31st, 2023.
Portfolio Stats
| FMV | $15.3B |
| # of Investments | 441 |
| Total unused commitments to extend financing | $941.9M |
| Portfolio Companies | 189 |
Portfolio Composition
| First Lien | 59.20% |
| Second Lien | 9.00% |
| Equity and Other | 31.80% |
Source: SOLVE Fixed Income, FS KKR (FSK)
Portfolio Credit Quality
| Non-Accruals Cost | $885.1M |
| # of Non-Accruals | 17 |
| # of Portfolio at Cost | 2.75% |
| New Non-Accruals | Wittur, Thermasys, Monitronics |
Source: SOLVE Fixed Income, FS KKR (FSK)
Select New Originations
| Company | Investment Type | Industry | Cost | Maturity | Coupon |
| Covis Finco Sarl | Subordinated Debt | Pharmaceuticals, Biotechnology & Life Sciences | $20.0M | 11/20/2026 | S+675 |
| Spotless Brands LLC | Senior Secured Loans-First Lien | Consumer Services | $18.4M | 7/25/2028 | S+675 |
| Careismatic Brands Inc | Senior Secured Loans-First Lien | Health Care Equipment & Services | $15.0M | 3/9/2025 | S+675 |
Source: SOLVE Fixed Income, FS KKR (FSK)
Exits & Sales
| Company | Investment Type | Industry | Net Proceeds | Maturity | Coupon |
| Pretium Partners LLC P2 | Asset Based Finance-Term Loan | Real Estate | $33.0M | 12/16/2029 | N/A |
| Advanced Lighting Technologies Inc | Senior Secured Loans-Second Lien | Materials | $10.5M | 3/16/2027 | N/A |
| Cimarron Energy Inc | Senior Secured Loans-First Lien | Energy | $4.8M | 12/31/2024 | L+900 |
Source: SOLVE Fixed Income, FS KKR (FSK)
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