Company Quick10K Filing
FS Investment
10-Q 2020-03-31 Filed 2020-05-06
10-K 2019-12-31 Filed 2020-02-27
10-Q 2019-09-30 Filed 2019-11-07
10-Q 2019-06-30 Filed 2019-08-07
10-Q 2019-03-31 Filed 2019-05-08
10-K 2018-12-31 Filed 2019-02-28
10-Q 2018-09-30 Filed 2018-11-07
10-Q 2018-06-30 Filed 2018-08-09
10-Q 2018-03-31 Filed 2018-05-10
10-K 2017-12-31 Filed 2018-03-01
10-Q 2017-09-30 Filed 2017-11-09
10-Q 2017-06-30 Filed 2017-08-09
10-Q 2017-03-31 Filed 2017-05-10
10-K 2016-12-31 Filed 2017-03-01
10-Q 2016-09-30 Filed 2016-11-09
10-Q 2016-06-30 Filed 2016-08-09
10-Q 2016-03-31 Filed 2016-05-09
10-K 2015-12-31 Filed 2016-02-29
10-Q 2015-09-30 Filed 2015-11-09
10-Q 2015-06-30 Filed 2015-08-10
10-Q 2015-03-31 Filed 2015-05-11
10-K 2014-12-31 Filed 2015-03-02
10-Q 2014-09-30 Filed 2014-11-10
10-Q 2014-06-30 Filed 2014-08-14
10-Q 2014-03-31 Filed 2014-05-15
10-K 2013-12-31 Filed 2014-02-28
10-Q 2013-09-30 Filed 2013-11-14
10-Q 2013-06-30 Filed 2013-08-14
10-Q 2013-03-31 Filed 2013-05-15
10-K 2012-12-31 Filed 2013-03-28
10-Q 2012-09-30 Filed 2012-11-14
10-Q 2012-06-30 Filed 2012-08-14
10-Q 2012-03-31 Filed 2012-05-15
10-K 2011-12-31 Filed 2012-03-30
10-Q 2011-09-30 Filed 2011-11-14
10-Q 2011-06-30 Filed 2011-08-12
10-Q 2011-03-31 Filed 2011-05-16
10-K 2010-12-31 Filed 2011-03-24
10-Q 2010-09-30 Filed 2010-11-15
10-Q 2010-06-30 Filed 2010-08-16
10-Q 2010-03-31 Filed 2010-05-17
10-K 2009-12-31 Filed 2010-03-19
8-K 2020-05-06 Earnings, Regulation FD, Exhibits
8-K 2020-04-20 Earnings, Exhibits
8-K 2020-03-10 Regulation FD
8-K 2020-02-27 Earnings, Regulation FD, Exhibits
8-K 2020-01-30 Earnings, Exhibits
8-K 2019-12-17 Off-BS Arrangement, Exhibits
8-K 2019-12-10 Enter Agreement, Regulation FD, Exhibits
8-K 2019-12-02 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-11-26 Officers
8-K 2019-11-20 Enter Agreement, Off-BS Arrangement, Other Events, Exhibits
8-K 2019-11-13 Enter Agreement, Exhibits
8-K 2019-11-13 Regulation FD, Exhibits
8-K 2019-11-12 Regulation FD
8-K 2019-11-07 Enter Agreement, Off-BS Arrangement, Other Events, Exhibits
8-K 2019-11-07 Earnings, Regulation FD, Exhibits
8-K 2019-10-30 Officers, Exhibits
8-K 2019-10-17 Earnings, Exhibits
8-K 2019-09-10 Regulation FD
8-K 2019-08-07 Earnings, Regulation FD, Exhibits
8-K 2019-07-26 Off-BS Arrangement, Exhibits
8-K 2019-07-19 Enter Agreement, Exhibits
8-K 2019-07-19 Regulation FD, Exhibits
8-K 2019-07-18 Earnings, Exhibits
8-K 2019-07-16 Shareholder Vote
8-K 2019-07-15 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-07-08 Regulation FD, Exhibits
8-K 2019-07-08 Enter Agreement, Exhibits
8-K 2019-07-08 Officers
8-K 2019-06-25 Enter Agreement
8-K 2019-06-14 Shareholder Vote, Other Events
8-K 2019-05-22 Regulation FD
8-K 2019-05-08 Earnings, Regulation FD, Exhibits
8-K 2019-04-18 Earnings, Exhibits
8-K 2019-04-02 Regulation FD
8-K 2019-03-22 Accountant, Exhibits
8-K 2019-03-14 Officers
8-K 2019-03-04 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-02-27 Earnings, Regulation FD, Exhibits
8-K 2019-02-11 Earnings, Exhibits
8-K 2019-01-15 Earnings
8-K 2018-12-20 Enter Agreement, Leave Agreement, Exhibits
8-K 2018-12-19 M&A, Officers, Amend Bylaw, Regulation FD, Exhibits
8-K 2018-12-06 Regulation FD
8-K 2018-12-03 Amend Bylaw, Shareholder Vote, Regulation FD, Exhibits
8-K 2018-11-07 Earnings, Regulation FD, Exhibits
8-K 2018-10-17 Earnings, Exhibits
8-K 2018-09-26 Officers
8-K 2018-08-09 Earnings, Regulation FD, Exhibits
8-K 2018-07-26 Earnings, Exhibits
8-K 2018-07-19 Enter Agreement, Amend Bylaw, Regulation FD, Exhibits
8-K 2018-05-10 Earnings, Regulation FD, Exhibits
8-K 2018-04-25 Earnings, Exhibits
8-K 2018-04-12 Other Events
8-K 2018-04-09 Enter Agreement, Leave Agreement, Exhibits
8-K 2018-03-29 Other Events
8-K 2018-03-29 Officers
8-K 2018-03-26 Shareholder Vote
8-K 2018-03-01 Earnings, Regulation FD, Exhibits
8-K 2018-02-13 Earnings, Exhibits

FSIC 10Q Quarterly Report

Part I - Financial Information
Item 1. Financial Statements.
Note 1. Principal Business and Organization
Note 2. Summary of Significant Accounting Policies
Note 3. Share Transactions
Note 4. Related Party Transactions
Note 5. Distributions
Note 6. Investment Portfolio
Note 7. Financial Instruments
Note 8. Fair Value of Financial Instruments
Note 9. Financing Arrangements
Note 10. Commitments and Contingencies
Note 11. Financial Highlights
Note 12. Subsequent Events
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.
Item 3. Quantitative and Qualitative Disclosures About Market Risk.
Item 4. Controls and Procedures.
Part II - Other Information
Item 1. Legal Proceedings.
Item 1A. Risk Factors.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Item 3. Defaults Upon Senior Securities.
Item 4. Mine Safety Disclosures.
Item 5. Other Information.
Item 6. Exhibits
EX-4.9 d894867dex49.htm
EX-10.6 d894867dex106.htm
EX-10.7 d894867dex107.htm
EX-31.1 d894867dex311.htm
EX-31.2 d894867dex312.htm
EX-32.1 d894867dex321.htm

FS Investment Earnings 2020-03-31

Balance SheetIncome StatementCash Flow

10-Q 1 d894867d10q.htm FORM 10-Q Form 10-Q
Table of Contents

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 10-Q

 

 

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

    

FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2020

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

COMMISSION FILE NUMBER: 814-00757

 

 

FS KKR Capital Corp.

(Exact name of registrant as specified in its charter)

 

 

 

Maryland   26-1630040
(State of Incorporation)   (I.R.S. Employer Identification Number)
201 Rouse Boulevard
Philadelphia, Pennsylvania
  19112
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (215) 495-1150

 

 

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐.

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ☐    No  ☐.

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

 

Large accelerated filer  ☒      Accelerated filer  ☐
Non-accelerated filer  ☐      Smaller reporting company  ☐
     Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ☐    No  ☒.

Securities registered pursuant to Section 12(b) of the Act.

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange

on which registered

Common stock, par value $0.001   FSK   New York Stock Exchange

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

There were 495,032,065 shares of the registrant’s common stock outstanding as of May 5, 2020.

 

 

 


Table of Contents

TABLE OF CONTENTS

 

         

Page

PART I—FINANCIAL INFORMATION

  
ITEM 1.   

FINANCIAL STATEMENTS

   1
  

Consolidated Balance Sheets as of March 31, 2020 (Unaudited) and December 31, 2019

   1
  

Unaudited Consolidated Statements of Operations for the three months ended March 31, 2020 and 2019

   2
  

Unaudited Consolidated Statements of Changes in Net Assets for the three months ended March  31, 2020 and 2019

   3
  

Unaudited Consolidated Statements of Cash Flows for the three months ended March 31, 2020 and 2019

   4
  

Consolidated Schedules of Investments as of March 31, 2020 (Unaudited) and December 31, 2019

   5
  

Notes to Unaudited Consolidated Financial Statements

   35
ITEM 2.   

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

   73
ITEM 3.   

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

   87
ITEM 4.   

CONTROLS AND PROCEDURES

   88

PART II—OTHER INFORMATION

  
ITEM 1.   

LEGAL PROCEEDINGS

   89
ITEM 1A.   

RISK FACTORS

   89
ITEM 2.   

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

   90
ITEM 3.   

DEFAULTS UPON SENIOR SECURITIES

   90
ITEM 4.   

MINE SAFETY DISCLOSURES

   90
ITEM 5.   

OTHER INFORMATION

   90
ITEM 6.   

EXHIBITS

   91
  

SIGNATURES

   93


Table of Contents

PART I—FINANCIAL INFORMATION

Item 1. Financial Statements.

FS KKR Capital Corp.

Consolidated Balance Sheets

(in millions, except share and per share amounts)

 

 

 

     March 31, 2020
(Unaudited)
    December 31, 2019  

Assets

    

Investments, at fair value

    

Non-controlled/unaffiliated investments (amortized cost—$6,122 and $6,006, respectively)

   $ 5,408     $ 5,661  

Non-controlled/affiliated investments (amortized cost—$615 and $686, respectively)

     511       717  

Controlled/affiliated investments (amortized cost—$1,355 and $1,117, respectively)

     1,026       979  
  

 

 

   

 

 

 

Total investments, at fair value (amortized cost—$8,092 and $7,809, respectively)

     6,945       7,357  

Cash

     179       93  

Foreign currency, at fair value (cost—$14 and $13, respectively)

     14       13  

Receivable for investments sold and repaid

     204       657  

Income receivable

     79       82  

Unrealized appreciation on foreign currency forward contracts

     3       1  

Deferred financing costs

     10       10  

Prepaid expenses and other assets

     5       3  
  

 

 

   

 

 

 

Total assets

   $ 7,439     $ 8,216  
  

 

 

   

 

 

 

Liabilities

    

Payable for investments purchased

   $ 10     $ 15  

Debt (net of deferred financing costs of $8 and $9, respectively)(1)

     4,238       4,173  

Unrealized depreciation on foreign currency forward contracts

     —         0  

Stockholder distributions payable

     95       96  

Management fees payable

     30       30  

Subordinated income incentive fees payable(2)

     —         —    

Administrative services expense payable

     2       3  

Interest payable

     32       23  

Other accrued expenses and liabilities

     4       10  
  

 

 

   

 

 

 

Total liabilities

     4,411       4,350  
  

 

 

   

 

 

 

Commitments and contingencies(3)

    

Stockholders’ equity

    

Preferred stock, $0.001 par value, 50,000,000 shares authorized, none issued and outstanding

     —         —    

Common stock, $0.001 par value, 750,000,000 shares authorized, 497,385,433 and 506,327,064 shares issued and outstanding, respectively

     —         1  

Capital in excess of par value

     4,002       4,041  

Retained earnings (accumulated deficit)(4)

     (974     (176
  

 

 

   

 

 

 

Total stockholders’ equity

     3,028       3,866  
  

 

 

   

 

 

 

Total liabilities and stockholders’ equity

   $ 7,439     $ 8,216  
  

 

 

   

 

 

 

Net asset value per share of common stock at period end

   $ 6.09     $ 7.64  

 

(1)

See Note 9 for a discussion of the Company’s financing arrangements.

 

(2)

See Note 2 for a discussion of the methodology employed by the Company in calculating the subordinated income incentive fees.

 

(3)

See Note 10 for a discussion of the Company’s commitments and contingencies.

 

(4)

See Note 5 for a discussion of the sources of distributions paid by the Company.

See notes to unaudited consolidated financial statements.

 

1


Table of Contents

FS KKR Capital Corp.

Unaudited Consolidated Statements of Operations

(in millions, except share and per share amounts)

 

 

 

     Three Months Ended
March 31,
 
     2020     2019  

Investment income

    

Interest income

   $ 125     $ 153  

Paid-in-kind interest income

     11       8  

Fee income

     12       11  

Dividend and other income

     2       1  

From non-controlled/affiliated investments:

    

Interest income

     3       2  

Paid-in-kind interest income

     5       4  

Fee income

     0       —    

From controlled/affiliated investments:

    

Interest income

     3       3  

Paid-in-kind interest income

     —         4  

Dividend and other income

     18       9  
  

 

 

   

 

 

 

Total investment income

     179       195  
  

 

 

   

 

 

 

Operating expenses

    

Management fees

     30       29  

Subordinated income incentive fees(1)

     —         24  

Administrative services expenses

     2       1  

Accounting and administrative fees

     1       0  

Interest expense(2)

     46       43  

Other general and administrative expenses

     2       3  
  

 

 

   

 

 

 

Total operating expenses

     81       100  
  

 

 

   

 

 

 

Net investment income

     98       95  
  

 

 

   

 

 

 

Realized and unrealized gain/loss

    

Net realized gain (loss) on investments:

    

Non-controlled/unaffiliated investments

     (92     (15

Non-controlled/affiliated investments

     (34     0  

Controlled/affiliated investments

     —         (3

Net realized gain (loss) on swap contracts

     —         1  

Net realized gain (loss) on foreign currency forward contracts

     —         —    

Net realized gain (loss) on foreign currency

     (4     2  

Net change in unrealized appreciation (depreciation) on investments:

    

Non-controlled/unaffiliated investments

     (367     (30

Non-controlled/affiliated investments

     (137     53  

Controlled/affiliated investments

     (191     (7

Net change in unrealized appreciation (depreciation) on swap contracts

     —         4  

Net change in unrealized appreciation (depreciation) on foreign currency forward contracts

     2       1  

Net change in unrealized gain (loss) on foreign currency

     22       —    
  

 

 

   

 

 

 

Total net realized and unrealized gain (loss)

   $ (801   $ 6  
  

 

 

   

 

 

 

Net increase (decrease) in net assets resulting from operations

   $ (703   $ 101  
  

 

 

   

 

 

 

Per share information—basic and diluted

    

Net increase (decrease) in net assets resulting from operations (Earnings per Share)

   $ (1.40   $ 0.19  
  

 

 

   

 

 

 

Weighted average shares outstanding

     503,423,652       527,507,132  
  

 

 

   

 

 

 

 

(1)

See Note 2 for a discussion of the methodology employed by the Company in calculating the subordinated income incentive fee.

 

(2)

See Note 9 for a discussion of the Company’s financing arrangements.

See notes to unaudited consolidated financial statements.

 

2


Table of Contents

FS KKR Capital Corp.

Unaudited Consolidated Statements of Changes in Net Assets

(in millions)

 

 

 

     Three Months Ended
March 31,
 
         2020             2019      

Operations

    

Net investment income (loss)

   $ 98     $ 95  

Net realized gain (loss) on investments, swap contracts and foreign currency

     (130     (15

Net change in unrealized appreciation (depreciation) on investments, swap contracts and foreign currency forward contracts(1)

     (693     21  

Net change in unrealized gain (loss) on foreign currency

     22       —    
  

 

 

   

 

 

 

Net increase (decrease) in net assets resulting from operations

     (703     101  
  

 

 

   

 

 

 

Stockholder distributions(2)

    

Distributions to stockholders

     (95     (100
  

 

 

   

 

 

 

Net decrease in net assets resulting from stockholder distributions

     (95     (100
  

 

 

   

 

 

 

Capital share transactions(3)

    

Repurchases of common stock

     (40     (47
  

 

 

   

 

 

 

Net increase (decrease) in net assets resulting from capital share transactions

     (40     (47
  

 

 

   

 

 

 

Total increase (decrease) in net assets

     (838     (46

Net assets at beginning of period

     3,866       4,166  
  

 

 

   

 

 

 

Net assets at end of period

   $ 3,028     $ 4,120  
  

 

 

   

 

 

 

 

(1)

See Note 7 for a discussion of these financial instruments.

 

(2)

See Note 5 for a discussion of the sources of distributions paid by the Company.

 

(3)

See Note 3 for a discussion of the Company’s capital share transactions.

See notes to unaudited consolidated financial statements.

 

3


Table of Contents

FS KKR Capital Corp.

Unaudited Consolidated Statements of Cash Flows

(in millions)

 

 

 

    Three Months Ended
March 31,
 
        2020             2019      

Cash flows from operating activities

   

Net increase (decrease) in net assets resulting from operations

  $ (703   $ 101  

Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:

   

Purchases of investments

    (1,296     (549

Paid-in-kind interest

    (23     (12

Proceeds from sales and repayments of investments

    914       510  

Net realized (gain) loss on investments

    126       18  

Net change in unrealized (appreciation) depreciation on investments

    695       (16

Net change in unrealized (appreciation) depreciation on swap contracts

    —         (4

Net change in unrealized (appreciation) depreciation on foreign currency forward contracts

    (2     (1

Accretion of discount

    (4     (4

Amortization of deferred financing costs and discount

    1       2  

Unrealized (gain)/loss on borrowings in foreign currency

    (28     0  

(Increase) decrease in receivable for investments sold and repaid

    453       21  

(Increase) decrease in income receivable

    3       (5

(Increase) decrease in prepaid expenses and other assets

    (2     (2

Increase (decrease) in payable for investments purchased

    (5     9  

Increase (decrease) in management fees payable

    —         9  

Increase (decrease) in subordinated income incentive fees payable

    —         10  

Increase (decrease) in administrative services expense

    (1     1  

Increase (decrease) in interest payable

    9       (2

Increase (decrease) in other accrued expenses and liabilities

    (6     (11
 

 

 

   

 

 

 

Net cash provided by (used in) operating activities

    131       75  
 

 

 

   

 

 

 

Cash flows from financing activities

   

Repurchases of common stock

    (40     (47

Stockholder distributions

    (96     (45

Borrowings under financing arrangements(1)

    808       618  

Repayments of financing arrangements(1)

    (717     (610

Deferred financing costs paid

    1       (3
 

 

 

   

 

 

 

Net cash provided by (used in) financing activities

    (44     (87
 

 

 

   

 

 

 

Total increase (decrease) in cash

    87       (12

Cash, and foreign currency at beginning of period

    106       104  
 

 

 

   

 

 

 

Cash, and foreign currency at end of period

  $ 193     $ 92  
 

 

 

   

 

 

 

Supplemental disclosure

   

Non-cash purchases of investments

  $ (41   $ —    
 

 

 

   

 

 

 

Non-cash sales of investments

  $ 41     $ —    
 

 

 

   

 

 

 

Local and excise taxes paid

  $ 7     $ 7  
 

 

 

   

 

 

 

 

(1)

See Note 9 for a discussion of the Company’s financing arrangements. During the three months ended March 31, 2020 and 2019, the Company paid $36 and $43, respectively, in interest expense on the financing arrangements.

See notes to unaudited consolidated financial statements.

 

4


Table of Contents

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments

As of March 31, 2020

(in millions, except share amounts)

 

 

 

Portfolio Company(a)

  Footnotes  

Industry

  Rate(b)   Floor(b)   Maturity   Principal
Amount(c)
    Amortized
Cost
    Fair
Value(d)
 

Senior Secured Loans—First Lien—124.8%

           

5 Arch Income Fund 2, LLC

  (l)(q)   Diversified Financials   10.5%     11/18/23   $ 28.5     $ 28.5     $ 27.0  

5 Arch Income Fund 2, LLC

  (l)(q)(v)   Diversified Financials   10.5%     11/18/23     4.8       4.8       4.5  

A10 Capital LLC

  (g)(h)   Diversified Financials   L+650   1.0%   5/1/23     30.3       30.1       29.3  

A10 Capital LLC

  (v)   Diversified Financials   L+650   1.0%   5/1/23     14.1       14.0       13.7  

Abaco Systems, Inc

  (e)(g)(h)(i)   Capital Goods   L+600   1.0%   12/7/21     61.1       60.1       60.3  

ABB CONCISE Optical Group LLC

  (h)(x)   Retailing   L+500   1.0%   6/15/23     0.7       0.7       0.6  

Accuride Corp

  (g)(h)(i)(x)   Capital Goods   L+525   1.0%   11/17/23     17.9       17.7       7.8  

Acproducts Inc

  (g)(h)   Consumer Durables & Apparel   L+650   1.0%   8/18/25     113.2       110.1       109.9  

Advanced Lighting Technologies Inc

  (g)(n)(w)(z)   Materials   L+750   1.0%   10/4/22     19.9       17.4       14.5  

Advantage Sales & Marketing Inc

  (g)(h)(x)   Commercial & Professional Services   L+325   1.0%   7/23/21     11.1       10.8       9.0  

Alion Science & Technology Corp

  (h)(x)   Capital Goods   L+450   1.0%   8/19/21     2.5       2.5       2.3  

All Systems Holding LLC

  (e)(f)(g)(h)   Commercial & Professional Services   L+625   1.0%   10/31/23     114.3       114.3       111.7  

All Systems Holding LLC

  (v)   Commercial & Professional Services   L+625   1.0%   10/31/23     7.2       7.2       7.1  

AltEn, LLC

  (g)(n)(w)(y)   Energy   L+400 PIK (L+400 Max PIK)     9/12/21     36.3       2.7       —    

AM General LLC

  (e)(g)(h)(i)   Capital Goods   L+725   1.0%   12/28/21     143.4       143.0       142.9  

American Tire Distributors Inc

  (g)(k)(x)   Automobiles & Components   L+750   1.0%   9/2/24     23.2       21.8       15.6  

Ammeraal Beltech Holding BV

  (g)(l)(x)   Capital Goods   E+375     7/30/25   2.0       2.3       1.7  

Amtek Global Technology Pte Ltd

  (j)(l)(z)   Automobiles & Components   E+500     4/4/24     49.2       60.5       53.6  

Apex Group Limited

  (g)(l)   Diversified Financials   L+700   1.3%   6/15/23   $ 0.9       0.9       0.9  

Apex Group Limited

  (l)(v)   Diversified Financials   L+700   1.3%   6/15/23     0.9       0.9       0.9  

Apex Group Limited

  (g)(h)(l)   Diversified Financials   L+700   1.3%   6/15/25     18.7       18.4       18.2  

Apex Group Limited

  (g)(l)   Diversified Financials   L+700   1.5%   6/15/25   £ 31.5       40.1       38.9  

Aspect Software Inc

  (g)   Software & Services   8.0% PIK (8.0% Max PIK)     6/30/20   $ —         —         —    

Aspect Software Inc

  (g)   Software & Services   L+500   1.0%   7/15/23     0.3       0.3       0.3  

Aspect Software Inc

  (g)   Software & Services   L+500   1.0%   1/15/24     3.0       2.7       2.7  

Aspect Software Inc

  (v)   Software & Services   L+500   1.0%   7/15/23     0.4       0.4       0.4  

athenahealth Inc

  (g)(x)   Health Care Equipment & Services   L+450     2/11/26     24.7       24.9       23.3  

Bellatrix Exploration Ltd

  (g)(l)   Energy   10.0%     5/29/20     0.2       0.2       0.2  

Bellatrix Exploration Ltd

  (l)(v)   Energy   10.0%     5/29/20     0.3       0.3       0.3  

Berner Food & Beverage LLC

  (g)(i)   Food & Staples Retailing   L+875   1.0%   2/2/23     75.4       75.1       74.9  

Borden Dairy Co

  (g)(n)(w)   Food, Beverage & Tobacco   L+750   1.0%   7/6/23     70.0       67.4       30.3  

Brand Energy & Infrastructure Services Inc

  (h)(x)   Capital Goods   L+425   1.0%   6/21/24     3.0       2.9       2.4  

Charles Taylor PLC

  (g)(l)   Diversified Financials   L+575     1/24/27   £ 33.6       42.8       40.0  

CHS/Community Health Systems, Inc.

  (g)(l)(x)   Health Care Equipment & Services   8.0%     3/15/26   $ 2.6       2.6       2.5  

CSafe Global

  (g)   Capital Goods   L+650   1.0%   11/1/21     5.9       5.9       5.7  

CSafe Global

  (g)(h)   Capital Goods   L+650     10/31/23     49.3       49.3       48.1  

CSafe Global

  (g)   Capital Goods   L+650   1.0%   10/31/23     9.3       9.3       9.0  

CSafe Global

  (v)   Capital Goods   L+650   1.0%   10/31/23     8.5       8.5       8.3  

CSM Bakery Products

  (h)(x)   Food, Beverage & Tobacco   L+400   1.0%   7/3/20     1.1       1.1       0.9  

CTI Foods Holding Co LLC

  (g)   Food, Beverage & Tobacco   L+700   1.0%   5/3/24     2.9       3.0       2.6  

Distribution International Inc

  (g)(h)(x)   Retailing   L+575   1.0%   12/15/23     27.8       24.9       22.6  

Eagle Family Foods Inc

  (g)   Food, Beverage & Tobacco   L+675   1.0%   6/14/23     2.5       2.5       2.3  

Eagle Family Foods Inc

  (v)   Food, Beverage & Tobacco   L+675   1.0%   6/14/23     4.6       4.6       4.3  

 

See notes to unaudited consolidated financial statements.

 

5


Table of Contents

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments (continued)

As of March 31, 2020

(in millions, except share amounts)

 

 

 

Portfolio Company(a)

  Footnotes  

Industry

  Rate(b)   Floor(b)   Maturity   Principal
Amount(c)
    Amortized
Cost
    Fair
Value(d)
 

Eagle Family Foods Inc

  (g)(h)(i)   Food, Beverage & Tobacco   L+675   1.0%   6/14/24   $ 46.8     $ 46.4     $ 43.2  

Electronics For Imaging Inc

  (g)(x)   Technology Hardware & Equipment   L+500     7/23/26     24.6       23.5       20.5  

Empire Today LLC

  (e)(g)(h)   Retailing   L+650   1.0%   11/17/22     79.3       79.3       77.6  

Entertainment Benefits Group LLC

  (g)   Media & Entertainment   L+575   1.0%   9/30/24     4.4       4.4       4.0  

Entertainment Benefits Group LLC

  (v)   Media & Entertainment   L+575   1.0%   9/30/24     0.7       0.7       0.6  

Entertainment Benefits Group LLC

  (g)(h)   Media & Entertainment   L+575   1.0%   9/30/25     30.3       29.9       27.7  

Frontline Technologies Group LLC

  (g)(h)(i)   Software & Services   L+575   1.0%   9/18/23     94.9       94.2       91.6  

Greystone & Co Inc

  (e)(g)(h)   Diversified Financials   L+800   1.0%   4/17/24     37.1       36.9       37.0  

Greystone Equity Member Corp

  (g)(l)   Diversified Financials   L+725   3.8%   4/1/26     59.8       59.8       58.8  

Greystone Equity Member Corp

  (l)(v)   Diversified Financials   L+725   3.8%   4/1/26     0.9       0.9       0.9  

Heniff Transportation Systems LLC

  (g)   Transportation   L+575   1.0%   12/3/24     3.4       3.4       3.3  

Heniff Transportation Systems LLC

  (v)   Transportation   L+575   1.0%   12/3/24     4.8       4.8       4.6  

Heniff Transportation Systems LLC

  (g)(h)(i)   Transportation   L+575   1.0%   12/3/26     64.9       64.5       62.1  

HM Dunn Co Inc

  (g)(n)(w)(y)   Capital Goods   L+875 PIK (L+875 Max PIK)   1.0%   6/30/21     0.8       0.6       0.2  

HM Dunn Co Inc

  (g)(y)   Capital Goods   15.0% PIK (15.0% Max PIK)     6/30/21     0.1       0.1       0.1  

HM Dunn Co Inc

  (v)(y)   Capital Goods   15.0% PIK (15.0% Max PIK)     6/30/21     —         —         —    

Hudson Technologies Co

  (g)(l)   Commercial & Professional Services   L+1,025   1.0%   10/10/23     33.3       33.1       17.3  

ID Verde

  (g)(l)   Commercial & Professional Services   E+700     3/29/24   9.5       10.4       10.1  

ID Verde

  (l)(v)   Commercial & Professional Services   E+700     3/29/24     20.5       22.5       21.7  

ID Verde

  (g)(l)   Commercial & Professional Services   L+725     3/29/25   £ 4.2       5.0       5.2  

Industria Chimica Emiliana Srl

  (g)(l)   Pharmaceuticals, Biotechnology & Life Sciences   L+650     6/30/26   19.3       20.7       20.1  

Industria Chimica Emiliana Srl

  (l)(v)   Pharmaceuticals, Biotechnology & Life Sciences   E+650     6/30/26     11.6       12.7       12.0  

Industry City TI Lessor LP

  (g)   Consumer Services   10.8%, 1.0% PIK (1.0% Max PIK)     6/30/26   $ 26.0       26.0       28.7  

J S Held LLC

  (e)(g)(h)   Insurance   L+600   1.0%   7/1/25     56.7       56.2       55.4  

J S Held LLC

  (v)   Insurance   L+600   1.0%   7/1/25     10.7       10.7       10.5  

J S Held LLC

  (g)   Insurance   L+600   1.0%   7/1/25     3.6       3.6       3.5  

J S Held LLC

  (v)   Insurance   L+600   1.0%   7/1/25     2.6       2.6       2.6  

JHT Holdings Inc

  (e)(h)(i)   Capital Goods   L+850   1.0%   5/4/22     18.9       18.8       19.1  

Jo-Ann Stores Inc

  (h)(x)   Retailing   L+500   1.0%   10/20/23     8.8       8.7       3.4  

Kellermeyer Bergensons Services LLC

  (e)(g)(h)(i)   Commercial & Professional Services   L+650   1.0%   11/7/26     142.0       140.8       134.0  

Kellermeyer Bergensons Services LLC

  (v)   Commercial & Professional Services   L+650   1.0%   11/7/26     35.0       35.0       33.0  

Kodiak BP LLC

  (g)(h)   Capital Goods   L+725   1.0%   12/1/24     57.4       57.3       57.3  

Kodiak BP LLC

  (v)   Capital Goods   L+725   1.0%   12/1/24     78.1       77.9       78.0  

Koosharem LLC

  (g)(x)   Commercial & Professional Services   L+450   1.0%   4/18/25     —         —         —    

Laird PLC

  (g)(h)(l)(x)   Technology Hardware & Equipment   L+450     7/9/25     1.9       1.8       1.6  

Lexitas Inc

  (g)(i)   Commercial & Professional Services   L+575   1.0%   11/14/25     23.2       23.1       22.2  

Lexitas Inc

  (v)   Commercial & Professional Services   L+575   1.0%   11/14/25     3.7       3.7       3.5  

Lexitas Inc

  (v)   Commercial & Professional Services   L+575   1.0%   11/14/25     2.5       2.5       2.4  

Lionbridge Technologies Inc

  (g)(h)(i)   Consumer Services   L+625   1.0%   12/29/25     99.2       98.7       96.4  

Lipari Foods LLC

  (g)   Food & Staples Retailing   L+588   1.0%   1/6/25     19.4       19.4       18.7  

Lipari Foods LLC

  (e)(i)   Food & Staples Retailing   L+588   1.0%   1/6/25     85.3       84.6       82.1  

Luxembourg Life Fund—Absolute Return Fund I

  (g)(l)   Insurance   L+750   1.5%   3/1/25     35.0       34.8       34.3  

Matchesfashion Ltd

  (h)(l)   Consumer Durables & Apparel   L+463     10/16/24     12.7       12.0       10.7  

 

See notes to unaudited consolidated financial statements.

 

6


Table of Contents

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments (continued)

As of March 31, 2020

(in millions, except share amounts)

 

 

 

Portfolio Company(a)

  Footnotes  

Industry

  Rate(b)   Floor(b)   Maturity   Principal
Amount(c)
    Amortized
Cost
    Fair
Value(d)
 

MB Precision Holdings LLC

  (g)(y)   Capital Goods   L+725, 2.3% PIK (2.3% Max PIK)   1.3%   7/23/22   $ 4.6     $ 4.5     $ 4.5  

Micronics Filtration Holdings Inc

  (e)(g)(n)(w)(y)   Capital Goods   L+800, 0.5% PIK (0.5% Max PIK)   1.3%   12/11/20     45.0       45.0       25.4  

Motion Recruitment Partners LLC

  (g)(h)   Commercial & Professional Services   L+600   1.0%   12/20/25     37.8       37.4       36.1  

Motion Recruitment Partners LLC

  (v)   Commercial & Professional Services   L+600   1.0%   12/20/25     29.8       29.8       28.4  

NBG Home

  (g)(h)(i)(x)   Consumer Durables & Apparel   L+550   1.0%   4/26/24     58.2       57.9       33.1  

NCI Inc

  (g)(h)(i)   Software & Services   L+750   1.0%   8/15/24     81.9       81.2       74.0  

One Call Care Management Inc

  (g)(x)(y)   Insurance   L+525   1.0%   11/27/22     4.9       4.2       4.0  

Ontic Engineering & Manufacturing Inc

  (g)(x)   Capital Goods   L+475     10/30/26     1.9       1.9       1.7  

P2 Energy Solutions Inc.

  (g)   Software & Services   L+675   1.0%   1/31/25     2.3       2.3       2.2  

P2 Energy Solutions Inc.

  (v)   Software & Services   L+675   1.0%   1/31/25     4.7       4.7       4.5  

P2 Energy Solutions Inc.

  (g)(i)   Software & Services   L+675   1.0%   1/31/26     117.4       116.0       112.3  

Peak 10 Holding Corp

  (g)(x)   Telecommunication Services   L+350     8/1/24     4.6       4.3       3.3  

Petroplex Acidizing Inc

  (g)(n)(w)(y)   Energy   L+725, 1.8% PIK (1.8% Max PIK)   1.0%   12/30/21     22.8       22.2       16.9  

Premium Credit Ltd

  (g)(l)   Diversified Financials   L+650     1/16/26   £ 50.6       64.5       59.5  

Pretium Packaging LLC

  (g)(i)   Household & Personal Products   L+625   1.0%   1/15/27   $ 95.9       95.0       93.1  

Pretium Packaging LLC

  (v)   Household & Personal Products   L+625   1.0%   1/15/27     19.5       19.4       19.0  

Project Marron

  (g)(l)   Consumer Services   B+625     7/3/25   A$ 1.5       1.0       0.8  

PSKW LLC

  (e)(g)   Health Care Equipment & Services   L+625   1.0%   3/9/26   $ 138.3       136.6       136.6  

Qdoba Restaurant Corp

  (h)(x)   Consumer Services   L+700   1.0%   3/21/25     11.1       11.0       9.5  

Quorum Health Corp

  (g)(x)   Health Care Equipment & Services   L+675   1.0%   4/29/22     —         —         —    

Reliant Rehab Hospital Cincinnati LLC

  (e)(g)(h)(i)   Health Care Equipment & Services   L+675     9/2/24     102.9       102.1       96.5  

Roadrunner Intermediate Acquisition Co LLC

  (e)(g)(h)   Health Care Equipment & Services   L+675   1.0%   3/15/23     31.3       31.3       30.8  

RSC Insurance Brokerage Inc

  (e)(g)(h)(i)   Insurance   L+550   1.0%   11/1/26     80.4       79.7       75.9  

RSC Insurance Brokerage Inc

  (v)   Insurance   L+550   1.0%   11/1/26     3.2       3.1       3.0  

RSC Insurance Brokerage Inc

  (v)   Insurance   L+550   1.0%   11/1/26     16.6       16.5       15.7  

Safe-Guard Products International LLC

  (e)(i)   Diversified Financials   L+575     1/27/27     65.7       65.0       60.9  

Savers Inc

  (e)(h)   Retailing   L+650, 0.8% PIK (0.8% Max PIK)   1.5%   3/28/24     43.6       43.2       42.2  

Savers Inc

  (g)   Retailing   L+700, 0.8% PIK (0.8% Max PIK)   1.5%   3/28/24   C$ 60.6       44.7       41.6  

Sequa Corp

  (h)(x)   Materials   L+500   1.0%   11/28/21   $ 11.6       11.6       9.5  

Sequel Youth & Family Services LLC

  (g)   Health Care Equipment & Services   L+700   1.0%   9/1/23     13.8       13.8       13.3  

Sequel Youth & Family Services LLC

  (e)(g)(h)   Health Care Equipment & Services   L+800     9/1/23     80.0       80.0       77.2  

Sequential Brands Group Inc.

  (g)(h)   Consumer Durables & Apparel   L+875     2/7/24     59.4       58.5       57.2  

Sorenson Communications LLC

  (g)(h)(x)   Telecommunication Services   L+650     4/29/24     13.8       13.4       13.0  

Staples Canada

  (g)(l)   Retailing   L+700   1.0%   9/12/24   C$ 9.5       7.4       6.8  

Sungard Availability Services Capital Inc

  (g)   Software & Services   L+750   1.0%   2/3/22   $ 0.5       0.5       0.5  

Sungard Availability Services Capital Inc

  (v)   Software & Services   L+750   1.0%   2/3/22     0.5       0.5       0.5  

Sutherland Global Services Inc

  (h)(l)(x)   Software & Services   L+538   1.0%   4/23/21     4.5       4.5       3.4  

Sweet Harvest Foods Management Co

  (g)(i)   Food & Staples Retailing   L+775, 1.0% PIK (1.0% Max PIK)   1.0%   5/30/23     26.6       26.6       25.6  

Tangoe LLC

  (e)(g)(h)(i)   Software & Services   L+650   1.0%   11/28/25     89.2       88.4       86.2  

ThermaSys Corp

  (g)(y)   Capital Goods   L+1,100 PIK (L+1,100 Max PIK)     12/31/23     6.9       7.3       6.3  

ThreeSixty Group

  (g)(h)(i)   Retailing   L+375, 3.8% PIK (3.8% Max PIK)   1.5%   3/1/23     50.6       50.1       44.8  

ThreeSixty Group

  (g)(h)(i)   Retailing   L+375, 3.8% PIK (3.8% Max PIK)   1.5%   3/1/23     50.3       49.8       44.5  

Torrid Inc

  (g)(h)   Retailing   L+675   1.0%   12/14/24     31.5       31.2       31.0  

 

See notes to unaudited consolidated financial statements.

 

7


Table of Contents

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments (continued)

As of March 31, 2020

(in millions, except share amounts)

 

 

 

Portfolio Company(a)

  Footnotes  

Industry

  Rate(b)   Floor(b)   Maturity   Principal
Amount(c)
    Amortized
Cost
    Fair
Value(d)
 

Trace3 Inc

  (e)(g)(h)   Software & Services   L+675   1.0%   8/3/24   $ 92.3     $ 92.3     $ 90.3  

Transaction Services Group Ltd

  (g)(l)   Consumer Services   L+600     10/15/26   A$ 7.6       5.0       4.3  

Transaction Services Group Ltd

  (g)(l)   Consumer Services   L+600     10/15/26   $ 15.9       15.9       14.6  

Transaction Services Group Ltd

  (g)(l)   Consumer Services   L+600     10/15/26   £ 6.1       7.8       7.0  

Truck-Lite Co LLC

  (g)   Capital Goods   L+625   1.0%   12/13/24   $ 7.6       7.5       7.2  

Truck-Lite Co LLC

  (v)   Capital Goods   L+625   1.0%   12/13/24     4.2       4.2       4.0  

Truck-Lite Co LLC

  (g)(i)   Capital Goods   L+625   1.0%   12/13/26     110.0       109.0       104.8  

Truck-Lite Co LLC

  (v)   Capital Goods   L+625   1.0%   12/13/26     16.2       16.1       15.5  

Utility One Source LP

  (h)(x)   Capital Goods   L+425     4/18/25     —         —         —    

Virgin Pulse Inc

  (e)(g)(h)(i)   Software & Services   L+650   1.0%   5/22/25     136.5       135.7       133.2  

Warren Resources Inc

  (h)   Energy   L+1,000, 1.0% PIK (1.0% Max PIK)   1.0%   5/22/20     0.7       0.7       0.6  

Wheels Up Partners LLC

  (g)   Transportation   L+855   1.0%   1/26/21     9.9       9.9       9.8  

Wheels Up Partners LLC

  (g)   Transportation   L+855   1.0%   8/26/21     5.4       5.4       5.4  

Wheels Up Partners LLC

  (g)   Transportation   L+710   1.0%   6/30/24     18.8       18.8       18.5  

Wheels Up Partners LLC

  (g)   Transportation   L+710   1.0%   11/1/24     7.8       7.8       7.6  

Wheels Up Partners LLC

  (g)   Transportation   L+710   1.0%   12/21/24     4.0       4.0       3.9  

Wheels Up Partners LLC

  (g)   Transportation   L+710   1.0%   12/21/24     12.5       12.5       12.1  

Wheels Up Partners LLC

  (g)   Transportation   L+710   1.0%   12/21/24     12.8       12.7       12.5  

Zeta Interactive Holdings Corp

  (e)(g)(h)   Software & Services   L+750   1.0%   7/29/22     15.8       15.8       15.8  

Zeta Interactive Holdings Corp

  (v)   Software & Services   L+750   1.0%   7/29/22     0.6       0.6       0.6  
             

 

 

   

 

 

 

Total Senior Secured Loans—First Lien

                4,359.3       4,086.5  

Unfunded Loan Commitments

                (309.6     (309.6
             

 

 

   

 

 

 

Net Senior Secured Loans—First Lien

                4,049.7       3,776.9  
             

 

 

   

 

 

 

Senior Secured Loans—Second Lien—30.0%

           

Abaco Systems, Inc

  (e)(g)   Capital Goods   L+1,050   1.0%   6/7/22     63.4       62.8       63.3  

Advantage Sales & Marketing Inc

  (g)(x)   Commercial & Professional Services   L+650   1.0%   7/25/22     3.9       3.6       2.8  

Agro Merchants Global LP

  (g)   Transportation   L+800   1.0%   11/30/25     13.4       13.1       13.2  

Amtek Global Technology Pte Ltd

  (g)(j)(l)(n)(w)(z)   Automobiles & Components   E+500     4/4/24   43.3       51.3       8.8  

Arena Energy LP

  (g)(n)(w)   Energy   L+900, 4.0% PIK (4.0% Max PIK)   1.0%   1/24/21   $ 9.1       8.9       6.0  

athenahealth Inc

  (g)   Health Care Equipment & Services   L+850     2/11/27     112.9       111.9       110.4  

Belk Inc

  (g)(n)(w)   Retailing   10.5%     6/12/23     19.5       15.5       4.4  

Belk Inc

  (g)(n)(w)   Retailing   10.5%     6/12/25     99.6       98.5       22.6  

Bellatrix Exploration Ltd

  (g)(l)(n)(w)   Energy   8.5%     9/11/23     1.9       1.9       1.5  

Bellatrix Exploration Ltd

  (g)(l)(n)(w)   Energy   8.5%     9/11/23     4.5       4.1       —    

Byrider Finance LLC

  (f)(g)   Automobiles & Components   L+1,000, 0.5% PIK (0.5% Max PIK)   1.3%   6/7/22     17.9       17.9       18.0  

Chisholm Oil & Gas Operating LLC

  (g)(n)(w)   Energy   L+550, 3.0% PIK (3.0% Max PIK)   1.3%   3/21/24     0.8       0.8       0.3  

Chisholm Oil & Gas Operating LLC

  (g)(n)(w)   Energy   L+550, 3.0% PIK (3.0% Max PIK)   1.3%   3/21/24     15.5       15.2       5.8  

CommerceHub Inc

  (g)(h)   Software & Services   L+775     5/21/26     69.3       67.4       67.5  

Culligan International Co

  (g)(h)   Household & Personal Products   L+850   1.0%   12/13/24     85.0       84.4       80.0  

EaglePicher Technologies LLC

  (g)(x)   Capital Goods   L+725     3/8/26     3.0       3.0       2.6  

Electronics For Imaging Inc

  (g)(x)   Technology Hardware & Equipment   L+900     7/23/27     6.2       5.9       4.9  

Emerald Performance Materials LLC

  (g)(x)   Materials   L+775   1.0%   8/1/22     3.0       3.0       2.5  

 

See notes to unaudited consolidated financial statements.

 

8


Table of Contents

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments (continued)

As of March 31, 2020

(in millions, except share amounts)

 

 

 

Portfolio Company(a)

  Footnotes  

Industry

  Rate(b)   Floor(b)   Maturity   Principal
Amount(c)
    Amortized
Cost
    Fair
Value(d)
 

Gruden Acquisition Inc

  (g)(x)   Transportation   L+850   1.0%   8/18/23   $ 10.0     $ 9.7     $ 9.1  

MedAssets Inc

  (e)(g)   Health Care Equipment & Services   L+975   1.0%   4/20/23     63.0       62.0       52.7  

NBG Home

  (g)(n)(w)   Consumer Durables & Apparel   L+975   1.0%   9/30/24     34.2       33.7       7.0  

NEP Broadcasting LLC

  (g)(x)   Media & Entertainment   L+700     10/19/26     1.0       1.0       0.5  

OEConnection LLC

  (g)   Software & Services   L+825     9/25/27     34.1       33.7       32.0  

Ontic Engineering & Manufacturing Inc

  (g)   Capital Goods   L+850     10/29/27     23.2       22.7       21.4  

Paradigm Acquisition Corp

  (g)(x)   Health Care Equipment & Services   L+750     10/26/26     2.4       2.4       1.9  

Peak 10 Holding Corp

  (g)(x)   Telecommunication Services   L+725   1.0%   8/1/25     0.2       0.2       0.1  

Petrochoice Holdings Inc

  (e)(g)   Capital Goods   L+875   1.0%   8/21/23     65.0       63.9       61.6  

Polyconcept North America Inc

  (g)   Household & Personal Products   L+1,000   1.0%   2/16/24     29.4       28.9       29.7  

Pure Fishing Inc

  (g)   Consumer Durables & Apparel   L+838   1.0%   12/31/26     81.1       80.3       64.8  

Rise Baking Company

  (g)(h)   Food, Beverage & Tobacco   L+800   1.0%   8/9/26     31.1       30.9       30.0  

Sequa Corp

  (h)(x)   Materials   L+900   1.0%   4/28/22     3.4       3.4       2.5  

Sorenson Communications LLC

  (f)   Telecommunication Services   11.5% PIK (11.5% Max PIK)     4/30/25     16.2       15.8       16.2  

Sparta Systems Inc

  (g)   Software & Services   L+825   1.0%   8/21/25     35.1       34.7       29.8  

Sungard Availability Services Capital Inc

  (g)   Software & Services   L+400, 2.5% PIK (2.5% Max PIK)   1.0%   11/3/22     2.0       2.0       2.0  

Vestcom International Inc

  (g)(h)   Consumer Services   L+800   1.0%   12/19/24     70.5       70.0       69.3  

WireCo WorldGroup Inc

  (h)(x)   Capital Goods   L+900   1.0%   9/30/24     3.4       3.4       3.0  

Wittur Holding GmbH

  (g)(l)   Capital Goods   E+850, 0.5% PIK (0.5% Max PIK)     9/23/27   56.4       60.1       58.3  

Z Gallerie LLC

  (g)(n)(w)(y)   Retailing   12.0%     6/20/21   $ 2.9       2.9       2.6  
             

 

 

   

 

 

 

Total Senior Secured Loans—Second Lien

                1,130.9       909.1  
             

 

 

   

 

 

 

Other Senior Secured Debt—5.5%

           

Advanced Lighting Technologies Inc

  (g)(n)(w)(z)   Materials   L+1,700 PIK (L+1,700 Max PIK)   1.0%   10/4/23     33.5       23.6       —    

Angelica Corp

  (n)(t)(w)   Health Care Equipment & Services   10.0% PIK (10.0% Max PIK)     12/30/22     42.8       42.3       29.4  

Black Swan Energy Ltd

  (e)(l)   Energy   9.0%     1/20/24     6.0       6.0       4.7  

Enterprise Development Authority

  (g)(x)   Consumer Services   12.0%     7/15/24     3.6       3.7       3.1  

FourPoint Energy LLC

  (e)(f)(g)   Energy   9.0%     12/31/21     74.8       74.0       59.8  

JW Aluminum Co

  (e)(g)(x)(y)   Materials   10.3%     6/1/26     36.5       36.5       32.1  

Lycra

  (g)(l)(x)   Consumer Durables & Apparel   7.5%     5/1/25     5.4       5.4       3.2  

Maxim Crane Works LP / Maxim Finance Corp

  (g)(x)   Capital Goods   10.1%     8/1/24     0.1       0.1       0.1  

Mood Media Corp

  (f)(g)(n)(w)(y)   Media & Entertainment   14.0% PIK (14.0% Max PIK)     12/31/23     41.0       40.0       21.8  

Rockport (Relay)

  (g)(n)(w)   Consumer Durables & Apparel   15.0% PIK (15.0% Max PIK)     7/31/22     25.7       22.0       0.1  

TruckPro LLC

  (g)(x)   Capital Goods   11.0%     10/15/24     3.5       3.3       3.4  

Velvet Energy Ltd

  (g)(l)   Energy   9.0%     10/5/23     7.5       7.5       6.4  

Vivint Inc

  (g)(x)   Commercial & Professional Services   7.9%     12/1/22     3.1       3.0       3.0  
             

 

 

   

 

 

 

Total Other Senior Secured Debt

                267.4       167.1  
             

 

 

   

 

 

 

Subordinated Debt—11.4%

           

Alion Science & Technology Corp

  (e)(g)   Capital Goods   11.0%     8/1/22     68.6       68.1       67.6  

Alion Science & Technology Corp

  (g)   Capital Goods   11.0%     8/31/22     22.2       21.9       21.8  

All Systems Holding LLC

  (g)   Commercial & Professional Services   10.0% PIK (10.0% Max PIK)     10/31/22     0.1       0.1       0.1  

athenahealth Inc

  (g)   Health Care Equipment & Services   L+1,125 PIK (L+1,125 Max PIK)     2/11/27     65.4       65.4       63.2  

 

See notes to unaudited consolidated financial statements.

 

9


Table of Contents

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments (continued)

As of March 31, 2020

(in millions, except share amounts)

 

 

 

Portfolio Company(a)

  Footnotes  

Industry

  Rate(b)   Floor(b)   Maturity   Principal
Amount(c)
    Amortized
Cost
    Fair
Value(d)
 

Byrider Finance LLC

  (g)   Automobiles & Components   20.0% PIK (20.0% Max PIK)     3/31/22   $ 1.2     $ 1.2     $ 1.2  

ClubCorp Club Operations Inc

  (g)(x)   Consumer Services   8.5%     9/15/25     23.4       23.1       14.2  

Craftworks Rest & Breweries Group Inc

  (g)(n)(w)   Consumer Services   12.0% PIK (12.0% Max PIK)     11/1/24     7.3       7.2       —    

DEI Sales Inc

  (e)(g)   Consumer Durables & Apparel   13.0% PIK (13.0% Max PIK)     2/28/23     79.6       79.1       59.1  

Hilding Anders

  (g)(l)(n)(w)(z)   Consumer Durables & Apparel   13.0% PIK (13.0% Max PIK)     6/30/21   128.8       129.3       67.7  

Hilding Anders

  (g)(l)(n)(w)(z)   Consumer Durables & Apparel   12.0% PIK (12.0% Max PIK)     12/31/22     3.8       0.5       —    

Hilding Anders

  (g)(l)(n)(w)(z)   Consumer Durables & Apparel   12.0% PIK (12.0% Max PIK)     12/31/23     44.3       0.9       0.1  

Hilding Anders

  (g)(l)(n)(w)(z)   Consumer Durables & Apparel   18.0% PIK (18.0% Max PIK)     12/31/24     57.6       12.9       0.4  

Kenan Advantage Group Inc

  (g)(x)   Transportation   7.9%     7/31/23   $ 5.1       5.1       4.3  

LifePoint Hospitals Inc

  (g)(x)   Health Care Equipment & Services   9.8%     12/1/26     8.4       8.4       8.1  

Opendoor Labs Inc

  (g)(l)   Real Estate   10.0%     1/23/26     23.6       23.6       23.6  

Opendoor Labs Inc

  (l)(v)   Real Estate   10.0%     1/23/26     47.1       47.1       47.2  

Ply Gem Holdings Inc

  (g)(x)   Capital Goods   8.0%     4/15/26     0.3       0.2       0.2  

Quorum Health Corp

  (g)(n)(w)(x)   Health Care Equipment & Services   11.6%     4/15/23     4.0       4.0       2.7  

Radiology Partners Inc

  (g)(x)   Health Care Equipment & Services   9.3%     2/1/28     2.4       2.4       2.1  

SRS Distribution Inc

  (g)(x)   Capital Goods   8.3%     7/1/26     7.0       6.9       6.4  

Team Health Inc

  (g)(x)   Health Care Equipment & Services   6.4%     2/1/25     2.8       2.6       1.0  

Z Gallerie LLC

  (g)(n)(w)(y)   Retailing   L+650   1.0%   6/20/22     1.8       1.5       1.3  
             

 

 

   

 

 

 

Total Subordinated Debt

                511.5       392.3  

Unfunded Debt Commitments

                (47.1     (47.1
             

 

 

   

 

 

 

Net Subordinated Debt

                464.4       345.2  
             

 

 

   

 

 

 

 

Portfolio Company(a)

  Footnotes  

Industry

  Rate(b)   Floor(b)   Maturity   Principal
Amount(c)/

Shares
    Amortized
Cost
    Fair
Value(d)
 

Asset Based Finance—25.7%

               

801 5th Ave, Seattle, Private Equity

  (g)(l)(n)(z)   Real Estate           8,799,177     $ 8.8     $ 8.5  

801 5th Ave, Seattle, Structure Mezzanine

  (g)(l)(z)   Real Estate   8.0%, 0.0% PIK (3.0% Max PIK)     12/19/29   $ 52.9       52.9       52.9  

Abacus JV, Private Equity

  (g)(l)   Insurance           27,083,946       27.1       29.2  

Accelerator Investments Aggregator LP, Private Equity

  (g)(l)(n)   Diversified Financials           3,303,010       3.8       3.2  

Altavair AirFinance, Private Equity

  (g)(l)   Capital Goods           27,953,710       28.0       25.4  

AMPLIT JV LP, Limited Partnership Interest

  (g)(l)(n)   Diversified Financials           N/A       4.1       0.6  

Australis Maritime, Common Stock

  (g)(l)(n)   Transportation           17,332,793       17.3       17.3  

Bank of Ireland, Class B Credit Linked Floating Rate Note

  (j)(l)   Banks   L+1,185     12/4/27   $ 15.1       15.1       14.7  

Global Jet Capital LLC, Structured Mezzanine

  (g)   Commercial & Professional Services   15.0% PIK (15.0% Max PIK)     1/30/25   $ 1.2       1.1       1.0  

Global Jet Capital LLC, Structured Mezzanine

  (g)   Commercial & Professional Services   15.0% PIK (15.0% Max PIK)     4/30/25   $ 7.6       6.9       6.5  

Global Jet Capital LLC, Structured Mezzanine

  (g)   Commercial & Professional Services   15.0% PIK (15.0% Max PIK)     9/3/25   $ 1.6       1.4       1.3  

Global Jet Capital LLC, Structured Mezzanine

  (g)   Commercial & Professional Services   15.0% PIK (15.0% Max PIK)     9/29/25   $ 1.5       1.4       1.3  

Global Jet Capital LLC, Structured Mezzanine

  (f)(g)   Commercial & Professional Services   15.0% PIK (15.0% Max PIK)     12/4/25   $ 88.7       81.6       75.8  

Global Jet Capital LLC, Structured Mezzanine

  (f)(g)(l)   Commercial & Professional Services   15.0% PIK (15.0% Max PIK)     12/4/25   $ 19.7       18.2       16.9  

Global Jet Capital LLC, Structured Mezzanine

  (f)(g)   Commercial & Professional Services   15.0% PIK (15.0% Max PIK)     12/9/25   $ 2.0       1.9       1.7  

Global Jet Capital LLC, Structured Mezzanine

  (f)(g)(l)   Commercial & Professional Services   15.0% PIK (15.0% Max PIK)     12/9/25   $ 15.7       14.4       13.4  

 

See notes to unaudited consolidated financial statements.

 

10


Table of Contents

FS KKR Capital Corp.

Unaudited Consolidated Schedule of Investments (continued)

As of March 31, 2020

(in millions, except share amounts)

 

 

 

Portfolio Company(a)

  Footnotes  

Industry

  Rate(b)   Floor(b)   Maturity   Principal
Amount(c)/

Shares
    Amortized
Cost
    Fair
Value(d)
 

Global Jet Capital LLC, Structured Mezzanine

  (f)   Commercial & Professional Services   15.0% PIK (15.0% Max PIK)     1/29/26   $ 7.6     $ 7.0     $ 6.5  

Global Jet Capital LLC, Structured Mezzanine

  (f)(l)   Commercial & Professional Services   15.0% PIK (15.0% Max PIK)     1/29/26   $ 1.7       1.6       1.4  

Global Jet Capital LLC, Structured Mezzanine

  (g)   Commercial & Professional Services   15.0% PIK (15.0% Max PIK)     4/14/26   $ 19.0       17.5       16.2  

Global Jet Capital LLC, Structured Mezzanine

  (g)   Commercial & Professional Services   15.0% PIK (15.0% Max PIK)     12/2/26   $ 18.6       17.1       15.9  

Global Jet Capital LLC, Preferred Stock

  (f)(g)(n)   Commercial & Professional Services           66,297,064       66.3       —    

Global Lending Services LLC, Private Equity

  (g)(l)(n)   Diversified Financials           4,220,491       4.2       4.3  

Home Partners JV, Common Stock

  (g)(l)(n)(y)   Real Estate           13,628,604       13.6       14.8  

Home Partners JV, Private Equity

  (g)(l)(n)(x)(y)   Real Estate           585,960       0.6       —    

Home Partners JV, Structured Mezzanine

  (g)(l)(y)   Real Estate   11.0% PIK (11.0% Max PIK)     3/25/29   $ 29.7       29.7       29.7  

Home Partners JV, Structured Mezzanine

  (l)(v)(y)   Real Estate   11.0% PIK (11.0% Max PIK)     3/25/29   $ 16.2       16.2       16.2  

KKR Central Park Leasing Aggregator L.P., Partnership Interest

  (g)(l)   Capital Goods   17.2%     5/31/23     N/A       42.9       43.1  

KKR Zeno Aggregator LP (K2 Aviation), Partnership Interest

  (g)(l)   Capital Goods           18,232,157       18.2       20.2