FS KKR Capital Corp (FSK): Entry into a Material Definitive Agreement
FS KKR Capital Corp (FSK) filed an SEC Form 8-K — Entry into a Material Definitive Agreement. EX-4.1 2 tm2617105d1_ex4-1.htm EXHIBIT 4.1 Exhibit 4.1 Execution Version SIXTEENTH SUPPLEMENTAL INDENTURE between FS KKR CAPITAL CORP. and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee Dated as of June 8, 2026 SIXTEENTH SUPPLEMENTAL INDENTURE THIS SIXTEENTH SUPPLEMENT
How this was made
The 30-second read
Why it matters
The supplemental indenture establishes the terms of $900M 7.500% Notes due 2031, including interest accrual and payment mechanics, which can change FSK’s capital structure and interest expense profile.
Market read
This is a primary-source debt-issuance disclosure that can move FSK’s credit perception and debt/credit spreads, even without guidance or earnings numbers.
What to watch
Traders will want the actual issuance pricing/yield, expected use of proceeds, and any covenants/ratings commentary—none are included in the excerpt.
Background
The 8-K reports entry into a material definitive agreement via a supplemental indenture governing issuance of senior notes under an existing 2014 base indenture.
Ticker impact
FSK entered a Sixteenth Supplemental Indenture to issue $900,000,000 of 7.500% Notes due 2031, creating new direct financial obligation.
Likely modest, two-sided reaction: debt issuance can pressure credit metrics, but fixed-rate terms may be viewed as funding/terming-out.
The filing discloses the size, coupon (7.500%), and maturity (2031) but provides no proceeds use, pricing/yield, or immediate earnings impact; market reaction will depend on issuance economics and balance-sheet context.
Market effects
Adds to the broader CLO/credit-funding tape where terming-out via fixed-rate notes can influence sector funding-cost expectations.
Limited; primarily US credit markets and FSK-specific credit spreads.
Low; this is a company-specific capital markets transaction.
Counterpoint
If the notes were priced favorably versus recent market levels, the fixed coupon could be credit-positive despite leverage optics.
Key entities
- issuerFS KKR Capital Corp
Company executing the Sixteenth Supplemental Indenture to issue 7.500% Notes due 2031.
- trusteeU.S. Bank Trust Company, National Association
Trustee under the indenture for the notes issuance.



