By Cristal Cody
Tupelo, Miss., Feb. 14 – Triumph Capital Management, LLC priced $654.3 million of notes due April 25, 2033 in a new collateralized loan obligation offering, according to a market source on Friday.
Trinitas CLO XII Ltd./Trinitas CLO XII LLC sold $416 million of class A floating-rate notes at Libor plus 131 basis points, $76 million of class B floating-rate notes at Libor plus 180 bps, $32.5 million of class C floating-rate notes at Libor plus 240 bps, $37.75 million of class D floating-rate notes at Libor plus 340 bps, $30.88 million of class E floating-rate notes at Libor plus 710 bps, $14.63 million of class F floating-rate notes at Libor plus 845 bps and $46.55 million of subordinated notes.
J.P. Morgan Securities LLC was the placement agent.
The CLO has a two-year non-call period and a five-year reinvestment period.
The deal is collateralized primarily by broadly syndicated senior secured corporate loans.
Triumph is a subsidiary of Dallas-based Triumph Bancorp, Inc.
| Issuer: | Trinitas CLO XII Ltd./Trinitas CLO XII LLC
|
| Amount: | $654.3 million
|
| Maturity: | April 25, 2033
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | Triumph Capital Management, LLC
|
| Settlement date: | March 19
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A notes
|
| Amount: | $416 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 131 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $76 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Ratings: | Non-rated
|
|
|
| Class C notes
|
| Amount: | $32.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 240 bps
|
| Ratings: | Non-rated
|
|
|
| Class D notes
|
| Amount: | $37.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 340 bps
|
| Ratings: | Non-rated
|
|
|
| Class E notes
|
| Amount: | $30.88 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 710 bps
|
| Ratings: | Non-rated
|
|
|
| Class F notes
|
| Amount: | $14.63 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 845 bps
|
| Ratings: | Non-rated
|
|
|
| Equity
|
| Amount: | $46.55 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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