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Mar 31, 2020
FS KKR Q1 2020 Earnings Report
FS KKR announced its financial results for the first quarter of 2020, along with a $250 million unsecured notes issuance and an amendment to its senior secured revolving credit facility. A distribution for the second quarter was also declared.
Key Takeaways
FS KKR Capital Corp. reported its financial results for the quarter ended March 31, 2020, noting the impacts of COVID-19. Despite the challenges, the company focused on supporting portfolio companies, maintaining liquidity, and enhancing operational flexibility. An unsecured notes offering of $250 million was completed, and the board declared a second-quarter distribution of $0.15 per share.
FS KKR team worked closely with portfolio companies amid COVID-19 impacts.
Accessed capital to maintain a strong liquidity position.
Amended financing agreements to enhance operating cushion.
Declared a second quarter 2020 distribution of $0.15 per share.
Forward Guidance
FS KKR is navigating the challenges posed by COVID-19 by supporting its portfolio companies and maintaining a strong liquidity position. The company has taken steps to enhance its operational flexibility through financing agreement amendments.
Positive Outlook
- The FS KKR team has responded by working closely with our portfolio companies
- Accessing capital to maintain our strong liquidity position
- Amending our financing agreements to enhance our operating cushion
- After giving effect to our recently completed unsecured notes offering, we have approximately $1.2 billion of available liquidity to support our existing portfolio companies
- Taking advantage of new investment opportunities
Challenges Ahead
- The first quarter of 2020 was an extraordinary time in the operating and financial world as companies of all sizes experienced the far-reaching impacts of COVID-19
- This is a difficult time for everyone
- Risks associated with possible disruption in FSK’s operations or the economy generally due to terrorism, natural disasters or pandemics such as COVID-19
Historical Earnings Impact
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Avg. Return Before/After Earnings
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