Trinitas prices $501 million; CSAM taps market; Fortress sells middle-market CLO

By Cristal Cody

Tupelo, Miss., Dec. 4 – The CLO primary market continues to see new issuance in both the dollar- and euro-denominated spaces.

Trinitas Capital Management, LLC priced $501 million of notes in the manager’s second CLO offering of the year.

Also, Credit Suisse Asset Management, LLC issued $399.06 million of notes in the manager’s third new broadly syndicated CLO sold this year.

Invesco European RR LP priced a €305.4 million European broadly syndicated CLO in its second deal of the year following marketing last week, sources said.

Invesco Euro CLO V DAC carries a 1.5-year non-call period and a four-year reinvestment period. Additional details were not immediately available.

In other primary action, Fortress Investment Group LLC affiliate FCOD CLO Management LLC priced a $250 million middle-market CLO.

Year to date, more than $70 billion of dollar-denominated broadly syndicated CLOs, over €20 billion of European CLOs and about $8 billion of middle-market CLOs have priced, sources report.

In its deal, Trinitas Capital Management priced $501 million of notes due Jan. 25, 2034 in its offering, according to a market source.

Trinitas CLO XIV Ltd./Trinitas CLO XIV LLC sold $300 million of class A-1 floating-rate notes at Libor plus 149 basis points at the top of the capital stack.

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