By Cristal Cody
Eureka Springs, Ark., Sept. 14 – Triumph Capital Advisors, LLC priced $409 million of notes due Oct. 20, 2028 in a collateralized loan obligation deal, according to details from a market source.
Trinitas CLO V Ltd./Trinitas CLO V LLC priced $2 million of class X floating-rate notes at Libor plus 100 basis points; $256 million of class A floating-rate notes at Libor plus 170 bps; $42 million of class B-1 floating-rate notes at Libor plus 215 bps; $6 million of 3.61% class B-2 fixed-rate notes; $24 million of class C floating-rate notes at Libor plus 315 bps; $22 million of class D floating-rate notes at Libor plus 441 bps; $18 million of class E floating-rate notes at Libor plus 740 bps and $39 million of subordinated notes.
Morgan Stanley & Co. LLC was the placement agent.
Triumph Capital Advisors will manage the CLO.
The CLO manager has priced two CLO deals year to date.
The subsidiary of Dallas-based Triumph Bancorp, Inc. priced one new CLO and refinanced a vintage CLO in 2015.
| Issuer: | Trinitas CLO V Ltd./Trinitas CLO V LLC
|
| Amount: | $409 million
|
| Maturity: | Oct. 20, 2028
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | Triumph Capital Advisors, LLC
|
| Pricing date: | Aug. 19
|
|
|
| Class X notes
|
| Amount: | $2 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 100 bps
|
| Ratings: | Moody’s: Aaa expected
|
| S&P: AAA
|
|
|
| Class A notes
|
| Amount: | $256 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Ratings: | Moody’s: Aaa expected
|
| S&P: AAA
|
|
|
| Class B-1 notes
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| Amount: | $42 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 215 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
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| Amount: | $6 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3.61%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
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| Amount: | $24 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 315 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $22 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 441 bps
|
| Rating: | S&P: BBB
|
|
|
| Class E notes
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| Amount: | $18 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 740 bps
|
| Rating: | S&P: BB
|
|
|
| Equity
|
| Amount: | $39 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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