Daily News: August 10, 2018

FS/KKR Advisor Closes New $3.435B Revolver With JPMorgan


FS/KKR Advisor, a partnership between FS Investments and KKR Credit, closed a new $3.435 billion, five-year senior secured omnibus revolving credit facility that matures in August 2023.

The new omnibus revolver refinances certain previously existing credit facilities and provides individual borrowing capacity for each of FS Investment Corporation, FS Investment Corporation II, FS Investment Corporation III (and Corporate Capital Trust. More than 20 lenders participated in this new facility, with JPMorgan Chase as administrative agent and ING Capital as collateral agent. JPMorgan Chase Bank, ING Capital, BMO Capital Markets and SunTrust Robinson Humphrey 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, CEO 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.