Market Newsdesk

VANCOUVER, BC, Dec. 10, 2020 /CNW/ – Trading resumes in:

Company: WISHPOND TECHNOLOGIES LTD. (formerly ‘Antera Ventures I Corp.’)

TSX-Venture Symbol: WISH (formerly ‘ANTI.P’)

Resumption (ET): 9:30  12/10/2020

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

SAN JOSE, Calif., Dec. 10, 2020 /PRNewswire/ — Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today announced the following senior leadership appointments, effective immediately, reporting to Hock Tan, President and Chief Executive Officer:

• Tom Krause, currently Chief Financial Officer of Broadcom, has been named President of the new Infrastructure Software Group, overseeing the Company’s six software divisions as well as software sales, customer support and software operations.
• Charlie Kawwas, currently Senior Vice President and Chief Sales Officer of Broadcom, has been named Chief Operating Officer of Broadcom, now overseeing the Company’s global operations, as well as continuing to be responsible for sales for the Semiconductor and Brocade Storage Networking businesses and corporate marketing for all of Broadcom.
• Kirsten Spears, currently Vice President, Corporate Controller and Principal Accounting Officer of Broadcom, will now assume the role of Chief Financial Officer of Broadcom.

Henry Samueli, Ph.D., Chairman of the Board of Broadcom Inc., said, “Through a series of strategic acquisitions and a steadfast commitment to R&D, Broadcom has grown to be one of the world’s leading technology companies. The leadership appointments announced today underscore the Board’s focus on driving the long-term growth and sustainability of Broadcom. Hock has created tremendous value and built a deep bench of talent. With these changes, Broadcom will be best positioned to build on its accomplishments and capture the significant opportunity it has ahead.”

Mr. Tan said, “Tom, Charlie and Kirsten are invaluable members of our management team, and these appointments demonstrate our Company’s commitment to continued growth and success in the future. With this strong group of leaders, we look forward to building on our outstanding track record of shareholder value creation.”

For Fiscal Year 2020, Broadcom’s one-year total shareholder return (“TSR”) was 23.5%. Broadcom’s TSR has increased by 15.7% annually on average over the past three years, and by 26.8% annually on average over the past five years. Additionally, since its initial public offering in 2009, Broadcom has increased its absolute TSR by over 2,500%, averaging a TSR increase of 34.0% annually.

Mr. Tan has been granted a new long-term performance-based equity award that incentivizes him through the end of fiscal 2023. The Company will file today with the SEC the amended agreements with Mr. Tan, Mr. Krause and Dr. Kawwas and the new agreement with Ms. Spears.

About Tom Krause

Tom Krause has been Chief Financial Officer of Broadcom since October 2016, overseeing all financial functions, mergers and acquisitions, information technology, human resources and investor relations. He joined the company as Vice President of Corporate Development in January 2012. Prior to joining, Mr. Krause ran his own financial advisory firm where he represented several public and private technology companies. Prior to this, he served as Vice President of Business Development at Techwell, a mixed-signal fabless semiconductor company that went public in 2006 and was acquired by Intersil in 2010. Additionally, he has had roles with Technology Crossover Ventures and Robertson Stephens. Mr. Krause received a B.A. in Economics from Princeton University.

About Charlie Kawwas, Ph.D.

Charlie Kawwas has been Senior Vice President and Chief Sales Officer of Broadcom, responsible for global sales and marketing across all business divisions, since June 2015. Dr. Kawwas joined the company through the LSI acquisition where he was head of worldwide sales. Previous positions at LSI include Vice President of Sales and Marketing for the networking division and Vice President of Marketing for the networking and storage products group. Before joining LSI, Dr. Kawwas was the leader of Product Line Management for the Optical Ethernet and Multi-service Edge portfolio at Nortel. Dr. Kawwas received a B.Eng. in Computer Engineering, an M.S. in Electrical Engineering and Computer Engineering, and a Ph.D. in Electrical and Computer Engineering from Concordia University, Montreal, Canada. Dr. Kawwas was awarded Alumnus of the Year for 2020 by Concordia University.

About Kirsten Spears

Kirsten Spears has been Vice President and Corporate Controller of Broadcom since May 2014. In this role, she was responsible for the accounting and business controllership, financial planning and analysis, financial reporting activities and related disclosure controls and global financial shared services including payroll. Previously, she was Vice President and Corporate Controller at LSI. She joined LSI in September of 1997 and held a number of management positions in accounting and reporting before becoming the Corporate Controller in 2007. Before LSI, Ms. Spears worked for PriceWaterhouseCoopers in audit; for Raychem, managing a variety of accounting functions; and for Bank of America, managing branch operations. Ms. Spears holds an M.B.A. from Santa Clara University.

Forward-Looking Statements

This press release contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Broadcom. These statements include, but are not limited to, statements that address our expected future business and financial performance and other statements identified by words such as “will”, “expect”, “believe”, “anticipate”, “estimate”, “should”, “intend”, “plan”, “potential”, “predict” “project”, “aim”, and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of the management of Broadcom, as well as assumptions made by, and information currently available to, such management, current market trends and market conditions and involve risks and uncertainties, many of which are outside Broadcom’s and our management’s control, and which may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, you should not place undue reliance on such statements.

Particular uncertainties that could materially affect future results include risks associated with: the COVID-19 pandemic, which has, and will likely continue to, negatively impact the global economy and disrupt normal business activity, and which may have an adverse effect on our results of operations; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; our dependence on contract manufacturing and outsourced supply chain; our dependency on a limited number of suppliers; global economic conditions and concerns; global political and economic conditions; government regulations, trade restrictions and trade tensions; our significant indebtedness and the need to generate sufficient cash flows to service and repay such debt; dependence on and risks associated with distributors and resellers of our products; dependence on senior management and our ability to attract and retain qualified personnel; any acquisitions we may make, such as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions, and with integrating acquired businesses with our existing businesses and our ability to achieve the benefits, growth prospects and synergies expected by such acquisitions; involvement in legal or administrative proceedings; quarterly and annual fluctuations in operating results; our ability to accurately estimate customers’ demand and adjust our manufacturing and supply chain accordingly; cyclicality in the semiconductor industry or in our target markets; our competitive performance and ability to continue achieving design wins with our customers, as well as the timing of any design wins; prolonged disruptions of our or our contract manufacturers’ manufacturing facilities, warehouses or other significant operations; our ability to improve our manufacturing efficiency and quality; our dependence on outsourced service providers for certain key business services and their ability to execute to our requirements; our ability to maintain or improve gross margin; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; availability of third party software used in our products; use of open source code sources in our products; any expenses or reputational damage associated with resolving customer product warranty and indemnification claims; market acceptance of the end products into which our products are designed; our ability to sell to new types of customers and to keep pace with technological advances; our compliance with privacy and data security laws; our ability to protect against a breach of security systems; fluctuations in foreign exchange rates; our provision for income taxes and overall cash tax costs, legislation that may impact our overall cash tax costs and our ability to maintain tax concessions in certain jurisdictions; and other events and trends on a national, regional and global scale, including those of a political, economic, business, competitive and regulatory nature. Many of the foregoing risks and uncertainties are, and will be, exacerbated by the COVID-19 pandemic and any worsening of the global business and economic environment as a result.

Our filings with the SEC, which you may obtain for free at the SEC’s website at http://www.sec.gov, discuss some of the important risk factors that may affect our business, results of operations and financial condition. Actual results may vary from the estimates provided. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking statements made in this announcement, whether as a result of new information, future events or otherwise, except as required by law.

About Broadcom Inc.

Broadcom Inc., (NASDAQ: AVGO), a Delaware corporation headquartered in San Jose, CA, is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom’s category-leading product portfolio serves critical markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. Our solutions include data center networking and storage, enterprise, mainframe and cyber security software focused on automation, monitoring and security, smartphone components, telecoms and factory automation. For more information, go to www.broadcom.com.

Contact:
Broadcom Inc.
Beatrice F. Russotto
Investor Relations
408-433-8000
[email protected]

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SOURCE Broadcom Inc.

RESTON, Va., Dec. 10, 2020 /PRNewswire/ — Leidos Holdings, Inc. (NYSE: LDOS) (“Leidos”), a FORTUNE^® 500 science and technology leader, today announced that it has entered into a definitive agreement to acquire 1901 Group, a leading provider for managed IT services and cloud solutions in the private and public market.

1901 Group delivers leading cloud, cybersecurity and enterprise-scale digital modernization services and capabilities that improve performance and reduce costs. Their unique approach applies technology and process automation to a set of repeatable and reusable services. This provides customers with complete flexibility to tailor their needs across a spectrum of support models – from off-premise managed services to traditional on-premise support, as well as a targeted mix of hybrid models. The company, founded in 2009, was established on the principle that IT can be efficiently delivered as an outcome-based service. 1901 Group brings a strategic, transformative approach to IT service delivery with over a decade of experience delivering IT to the federal marketplace.

The acquisition of 1901 Group will advance Leidos’ position in the digital modernization market and expand its ability to address the accelerating cloud and IT services markets. This will allow Leidos to respond to growing customer demand for more fixed-priced, utility-based business arrangements. Leidos will also leverage 1901’s proven IT, cloud factories and fully-integrated service delivery platforms.

“We are pleased to welcome 1901 Group’s team of digital transformation experts who share Leidos’ commitment to making the world safer, healthier and more efficient through IT,” said Leidos Chairman and CEO Roger Krone. “Leidos and 1901 Group both strive to provide customers with progressive, agile and secure solutions. Together, we will be better positioned to continue successfully providing these critical solutions while navigating growing trends in the IT marketplace.”   

“1901 Group will provide substantial new capabilities to enhance the value we bring to existing defense customers and position Leidos to meet the growing demand for cloud-based solutions in the defense market,” said Leidos Defense Group President Gerry Fasano. “The Leidos Defense Group will work to ensure these new capabilities are readily accessible to enhance our offerings and pursuits across the company.”

“1901 Group is very excited about our future with Leidos,” said 1901 Group Founder and CEO Sonu Singh. “We have closely shared values based upon a commitment to our customers, our employees, and our mission of utilizing untapped IT talent across all geographies. The opportunities this acquisition will unlock by combining our Enterprise IT Operations Centers and secure FedRAMP platform with the unmatched depth and scale of Leidos sets us up for great success. We look forward to closing this deal and officially becoming a part of Leidos.”

Transaction Details

Leidos expects to fund the $215 million purchase price with cash on hand. 

Approvals and Timing

The Board of Directors of both companies unanimously approved the transaction. It is expected to close the first quarter of 2021, subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals.

Advisors

Holland & Knight, LLP is serving as legal advisor to Leidos. Pillsbury Winthrop Shaw Pittman LLP is serving as legal advisor to 1901 Group, and Baird served as exclusive advisor to 1901 Group on this transaction.

About Leidos

Leidos is a Fortune 500^® information technology, engineering, and science solutions and services leader working to solve the world’s toughest challenges in the defense, intelligence, homeland security, civil, and health markets. The company’s 38,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Va., Leidos reported annual revenues of approximately $11.09 billion for the fiscal year ended January 3, 2020. For more information, visit www.Leidos.com.

About 1901 Group

1901 Group is a leading provider of innovative IT services and solutions in the public and private sector market that delivers improved service delivery by leveraging our FedRAMP authorized Enterprise IT Operations Center (EITOC) to provide 24/7 support of end-users, complex IT infrastructure environments, and mission-critical systems. Headquartered in Reston, VA, 1901 Group has three offices in Virginia (Reston, Blacksburg, Abingdon), plus personnel in more than 26 locations across the United States. The 1901 Group family includes over 400 experts serving customers worldwide. We support a highly skilled workforce with a ratio of 2/1 technology certifications to engineers and have been recognized as one of Virginia’s Fantastic 50 fastest growing businesses.

Cautionary Statement Regarding Forward-Looking Statements

The forward-looking statements contained in this release involve risks and uncertainties that may affect Leidos’ operations, markets, products, services, prices and other factors as discussed in filings with the Securities and Exchange Commission (the “SEC”). Without limiting the foregoing, forward-looking statements often use words such as “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “seek,” “project”, “target,” “goal,” “may,” “will,” “would,” “could,” “should,” “can,” “continue” and other words of similar meaning in connection with a discussion of the transaction or future operating or financial performance or events. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental and technological factors. Accordingly, there is no assurance that the expectations of Leidos will be realized. This release also contains statements about the proposed acquisition of 1901 Group that are based on assumptions currently believed to be valid but involve significant risks and uncertainties, many of which are beyond Leidos’ control, which could cause Leidos’ actual results to differ materially from these forward-looking statements with respect to the transaction, including risks relating to the completion of the transaction on anticipated terms and timing, including regulatory approvals, anticipated tax treatment, ability to retain key personnel, the dependency of the transaction on market conditions and the impact of a change in market conditions on the value to be received in the transaction, unforeseen liabilities, future capital expenditures, uncertainty as to the expected financial condition and economic performance of the company following the closing, including future revenues, expenses, earnings, indebtedness, losses, prospects, business strategies for the management, expansion and growth of the company following the closing, Leidos’ ability to integrate the businesses successfully and to achieve anticipated synergies, and the risk that disruptions from the transaction will harm Leidos’ business. While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Leidos’ consolidated financial condition, results of operations or liquidity. For a discussion identifying additional important factors that could cause actual results to vary materially from those anticipated in the forward-looking statements, see Leidos’ filings with the SEC, including “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in Leidos’ annual report on Form 10-K for the year ended December 2019, and in its quarterly reports on Form 10-Q which are available at http://www.Leidos.com and at the SEC’s web site at http://www.sec.gov. The forward-looking statements contained in this release are made only as of the date of this release. Readers are cautioned not to put undue reliance on forward-looking statements. Leidos assumes no obligation to provide revisions or updates to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.

Contacts:      

Media:
Thomas Doheny
(571) 474-4735
[email protected]

Alyssa Pettus

(571) 992-5499
[email protected] 

Investors:

Peter M. Berl

(571) 526-7582
[email protected]

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SOURCE Leidos

COLUMBUS, Ga., Dec. 10, 2020 /PRNewswire/ — Aflac Incorporated (NYSE: AFL) announced today its $25 million commitment to invest in the Black Economic Development Fund introduced by the Local Initiatives Support Corporation (LISC).

The Black Economic Development Fund (the “Fund”) is a mission-oriented investment fund with the primary objective of supporting Black-led financial institutions, anchor institutions and business transactions to strengthen the Black community in rural and urban communities. The ultimate goal is to help close the racial wealth gap. The Fund expects to begin initial deployment of capital in the first quarter of 2021, taking an industry-agnostic approach across a diverse set of borrowers and geographies with a variety of products and investment durations.

This announcement follows Chairman and CEO of Aflac Incorporated Daniel P. Amos’ recent signing of the CEO Action for Diversity & Inclusion™ pledge, reaffirming Aflac’s longstanding commitment to building productive, diverse and inclusive workplaces—principles that underscore Aflac’s long-time commitment to fostering a diverse and inclusive corporate culture and workforce.

Chairman and CEO of Aflac Incorporated Daniel P. Amos commented, “The concept of diversity, equality and inclusion is not new at Aflac; it is a topic about which we at Aflac have been passionate for decades. Aflac has a long history of inclusiveness dating back to the U.S. Civil Rights movement when our principal founder, John Amos, actively worked with leaders engaged in issues of equality and fairness. We are proud to continue that good work and thrilled to take part in LISC’s Black Economic Development Fund. We view this as much more than just a financial investment; rather, we see it as an investment in society to help support schools, housing and small businesses within Black communities. Aflac’s founding principles have evolved into what is now known internally at Aflac as ‘The Aflac Way,’ a collection of guiding principles that reflects Aflac’s corporate culture: treating all of its constituents, both internal and external—with dignity, respect and fairness. Our investment in the Black Economic Development Fund speaks to that ideology, and it is our honor to be a part of it.”

“It’s encouraging to see corporations like Aflac extend their commitment to diversity and equality by investing their assets in communities of color,” said George Ashton, managing director of LISC Strategic Investments. “Aflac’s investment in the Black Economic Development Fund will help fuel broad social and economic benefits that will have a lasting impact on businesses, jobs, and economic growth throughout the country. With this investment, Aflac is setting the standard for its peers to do the same.”

ABOUT AFLAC INCORPORATED

Aflac Incorporated (NYSE: AFL) is a Fortune 500 company, helping provide protection to more than 50 million people through its subsidiaries in Japan and the U.S., where it is a leading supplemental insurer by paying cash fast when policyholders get sick or injured. For more than six decades, insurance policies of Aflac Incorporated’s subsidiaries have given policyholders the opportunity to focus on recovery, not financial stress. Aflac Life Insurance Japan is the leading provider of medical and cancer insurance in Japan, where it insures 1 in 4 households. Fortune magazine recognized Aflac as one of the 100 Best Companies to Work for in America for 20 consecutive years. For 14 consecutive years, Aflac has been recognized by Ethisphere as one of the World’s Most Ethical Companies. In 2020, Fortune included Aflac Incorporated on its list of World’s Most Admired Companies for the 19th time, and Bloomberg added Aflac Incorporated to its Gender-Equality Index, which tracks the financial performance of public companies committed to supporting gender equality through policy development, representation and transparency. To learn how to get help with expenses health insurance doesn’t cover, get to know us at aflac.com.

Analyst and investor contact – David A. Young, 706.596.3264 or 800.235.2667 or [email protected]

Media contact – Ines Gutzmer, 762.207.7601 or [email protected]

ABOUT LISC

With residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families. Since 1979, LISC has invested $22 billion to build or rehab more than 419,000 affordable homes and apartments and develop 70.3 million square feet of retail, community and educational space.

For more information on the Black Economic Development Fund, please visit https://www.liscstrategicinvestments.org or contact [email protected].

Investor or media inquiries – Catherine Carlstedt, [email protected]

FORWARD-LOOKING INFORMATION

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” to encourage companies to provide prospective information, so long as those informational statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those included in the forward-looking statements. The company desires to take advantage of these provisions. This document contains cautionary statements identifying important factors that could cause actual results to differ materially from those projected herein, and in any other statements made by company officials in communications with the financial community and contained in documents filed with the Securities and Exchange Commission (SEC). Forward-looking statements are not based on historical information and relate to future operations, strategies, financial results or other developments. Furthermore, forward-looking information is subject to numerous assumptions, risks and uncertainties. In particular, statements containing words such as “expect,” “anticipate,” “believe,” “goal,” “objective,” “may,” “should,” “estimate,” “intends,” “projects,” “will,” “assumes,” “potential,” “target,” “outlook” or similar words as well as specific projections of future results, generally qualify as forward-looking. Aflac undertakes no obligation to update such forward-looking statements.

The company cautions readers that the following factors, in addition to other factors mentioned from time to time, could cause actual results to differ materially from those contemplated by the forward-looking statements:

• the effects of COVID-19 and any resulting economic effects and government interventions on the Company’s business and financial results
• ability to attract and retain qualified sales associates, brokers, employees, and distribution partners
• events related to the Japan Post investigation and other matters
• competitive environment and ability to anticipate and respond to market trends
• difficult conditions in global capital markets and the economy
• deviations in actual experience from pricing and reserving assumptions
• ability to continue to develop and implement improvements in information technology systems
• defaults and credit downgrades of investments
• exposure to significant interest rate risk
• concentration of business in Japan
• limited availability of acceptable yen-denominated investments
• tax rates applicable to the Company may change
• failure to comply with restrictions on policyholder privacy and information security
• interruption in telecommunication, information technology and other operational systems, or a failure to maintain the security, confidentiality or privacy of sensitive data residing on such systems
• catastrophic events including, but not necessarily limited to, epidemics, pandemics (such as the coronavirus COVID-19), tornadoes, hurricanes, earthquakes, tsunamis, war or other military action, terrorism or other acts of violence, and damage incidental to such events
• ability to protect the Aflac brand and the Company’s reputation
• extensive regulation and changes in law or regulation by governmental authorities
• foreign currency fluctuations in the yen/dollar exchange rate
• decline in creditworthiness of other financial institutions
• significant valuation judgments in determination of amount of impairments taken on the Company’s investments
• U.S. tax audit risk related to conversion of the Japan branch to a subsidiary
• subsidiaries’ ability to pay dividends to the Parent Company
• decreases in the Company’s financial strength or debt ratings
• inherent limitations to risk management policies and procedures
• concentration of the Company’s investments in any particular single-issuer or sector
• differing judgments applied to investment valuations
• ability to effectively manage key executive succession
• changes in accounting standards
• level and outcome of litigation
• allegations or determinations of worker misclassification in the United States

 

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SOURCE Aflac Incorporated

IRVING, Texas, Dec. 10, 2020 /PRNewswire/ — Commercial Metals Company (NYSE: CMC), in conjunction with its first quarter earnings release for fiscal 2021, invites you to listen to its conference call that will be broadcast live over the Internet on Monday, January 11, 2021, at 11:00 a.m.  Eastern Time (10:00 a.m. Central) with Barbara Smith, Chairman, President & CEO and Paul Lawrence, Vice President & CFO. 

The teleconference will also be available via webcast.  To access the webcast (in listen-only mode), please visit Commercial Metals Company’s website at www.cmc.com. 

Commercial Metals Company and its subsidiaries manufacture, recycle and fabricate steel and metal products, related materials and services through a network of facilities that includes seven electric arc furnace (“EAF”) mini mills, two EAF micro mills, two rerolling mills, steel fabrication and processing plants, construction-related product warehouses, and metal recycling facilities in the United States and Poland.

 

 

 

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SOURCE Commercial Metals Company

NEW YORK, Dec. 10, 2020 /PRNewswire/ — Blackstone Liquid Credit Strategies LLC, formerly known as “GSO / Blackstone Debt Funds Management LLC” and an affiliate of Blackstone Alternative Credit Advisors LP, formerly known as “GSO Capital Partners LP” (collectively, and together with their affiliates in the credit-focused business of The Blackstone Group Inc., “Blackstone Credit“), announced name changes for the three listed closed-end funds it advises. The name changes are being made in connection with Blackstone Credit’s recent name change from “GSO”, reflecting the business’s longstanding integration with The Blackstone Group, Inc. (“Blackstone”) since Blackstone acquired GSO in 2008. The business’s team, process, and infrastructure remain intact, with no operational changes due to the name change.

Blackstone / GSO Senior Floating Rate Term Fund (NYSE: BSL), Blackstone / GSO Long-Short Credit Income Fund (NYSE: BGX), and Blackstone / GSO Strategic Credit Fund (NYSE: BGB) (each a “Fund” and together the “Funds”) are being renamed to “Blackstone Senior Floating Rate Term Fund”, “Blackstone Long-Short Credit Income Fund”, and “Blackstone Strategic Credit Fund”, respectively, effective December 10, 2020. No change will be made to each Fund’s investment objective and strategy, or in Fund management. There will be no changes to the Funds’ ticker symbols on the New York Stock Exchange.

About Blackstone and Blackstone Credit

Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $584 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.

Blackstone Credit is one of the world’s largest credit-focused asset managers, with $135 billion in AUM. We seek to generate attractive risk-adjusted returns for our clients by investing across the entire corporate credit market, from public debt to private loans. Our capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest, and navigate changing market environments.

Investors wishing to buy or sell shares need to place orders through an intermediary or broker.

Contact the Funds at 1 (877) 299-1588 or visit the Funds’ website at www.blackstone-credit.com for additional information.

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SOURCE Blackstone

PHILADELPHIA, Dec. 10, 2020 /PRNewswire/ — FS KKR Capital Corp. (NYSE: “FSK”) today announced that it has completed its previously announced underwritten offering of $1,000,000,000 in aggregate principal amount of its 3.400% unsecured notes due 2026 (the “Notes”). BofA Securities, Inc., BMO Capital Markets Corp., ING Financial Markets LLC, MUFG Securities Americas Inc., SMBC Nikko Securities America, Inc., Truist Securities, Inc., J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Mizuho Securities USA LLC and KKR Capital Markets LLC acted as joint book-running managers for this offering. Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, RBC Capital Markets, LLC, Barclays Capital Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC acted as joint lead managers for this offering. BNP Paribas Securities Corp., SG Americas Securities, LLC, Compass Point Research & Trading, LLC, ICBC Standard Bank Plc, R. Seelaus & Co., LLC, Keefe, Bruyette & Woods, Inc. and U.S. Bancorp Investments, Inc. acted as co-managers for this offering.

FSK expects to use the net proceeds of this offering to repay outstanding indebtedness under its financing arrangements.

This announcement does not constitute an offer to sell or a solicitation of an offer to buy any of the Notes, nor shall there be any offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

About FS KKR Capital Corp.
FS KKR Capital Corp. (NYSE: FSK) is a leading publicly traded business development company (BDC) focused on providing customized credit solutions to private middle market U.S. companies. FSK seeks to invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market companies. FSK is advised by FS/KKR Advisor, LLC.

About FS/KKR Advisor, LLC
FS/KKR Advisor, LLC (FS/KKR) is a partnership between FS Investments and KKR Credit that serves as the investment adviser to BDCs with approximately $15 billion in assets under management as of September 30, 2020. The BDCs managed by FS/KKR are FSK and FS KKR Capital Corp. II (NYSE: FSKR).

FS Investments is a leading asset manager dedicated to helping individuals, financial professionals and institutions design better portfolios. The firm provides access to alternative sources of income and growth, and focuses on setting industry standards for investor protection, education and transparency. FS Investments is headquartered in Philadelphia, PA with offices in New York, NY, Orlando, FL, Washington, DC and Leawood, KS.

KKR Credit is a subsidiary of KKR & Co. Inc., a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds.

Forward-Looking Statements and Important Disclosure Notice
This announcement may contain certain forward-looking statements, including statements with regard to future events or the future performance or operations of FSK. Words such as “believes,” “expects,” “projects,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements. Factors that could cause actual results to differ materially include changes in the economy, risks associated with possible disruption in FSK’s operations or the economy generally due to terrorism, natural disasters or pandemics such as COVID-19, future changes in laws or regulations and conditions in FSK’s operating area, and the price at which shares of FSK’s common stock trade on the New York Stock Exchange. Some of these factors are enumerated in the filings FSK makes with the SEC. FSK undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information:

Investor Relations Contact

Robert Paun

[email protected]

917-338-5074

Media Contact

Melanie Hemmert

[email protected]

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SOURCE FS KKR Capital Corp.