FS KKR Income unit obtains $250 million three-year revolving facility

By Wendy Van Sickle

Columbus, Ohio, Oct. 16 – FS KKR Income Trust’s wholly owned special purpose financing subsidiary, K-FIT Finance AB-1 LLC, entered into a $250 million revolving credit facility on Oct. 10 with Ally Bank as administrative agent and arranger, according to an 8-K filing with the Securities and Exchange Commission.

K-FIT has the option to increase the maximum committed amount up to $500 million, and the facility terminates on Oct. 10, 2026.

Borrowings accrue interest at daily one-month SOFR plus 275 basis points, Advances are subject to a borrowing base.

The borrower will pay a fee on the average daily unused facility amount of 50 bps for the first three months and thereafter at 50 bps to 100 bps, depending on the percentage of the unused facility amount.

Computershare Trust Co., NA is the collateral administrator and collateral custodian.

The borrower will use proceeds to acquire loans or fund unfunded commitments with respect to loans or to make distributions to its members.

The Philadelphia-based business development company invests mainly in senior secured and subordinated debt of private middle-market U.S. companies.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.