KKR Injects 300 Million Dollars into FS KKR Capital
KKR will inject 300 million dollars into FS KKR Capital as losses widen. The fund reported a drop in net asset value per share amid rising non-accrual rates.
Xurve View
Insights:
Xurve View
KKR & CO INC will inject $300 million into FS KKR CAPITAL CORP as the private credit fund reported a 46% decline in value and rising loan defaults. The capital deployment comes after a Fitch downgrade to junk status and growing credit stress in FSK's software-heavy portfolio. KKR is purchasing $150 million in convertible preferred stock and launching a tender offer for up to $150 million in common shares.
