Chicago, Jan. 23 – Trinitas Capital Management, LLC priced $502.95 million of notes in a collateralized loan obligation being issued by Trinitas CLO XXVI Ltd./Trinitas CLO XXVI LLC, according to a presale report.
The notes will mature on Jan. 20, 2035.
The CLO consists of $315 million of class A-1 senior secured floating-rate notes at SOFR plus 169 basis points, $12.5 million of class A-2 senior secured floating-rate notes at SOFR plus 205 bps, $52.5 million of class B senior secured floating-rate notes at SOFR plus 250 bps, $30 million of class C senior secured deferrable floating-rate notes at SOFR plus 295 bps, $30 million of class D senior secured deferrable floating-rate notes at SOFR plus 450 bps, $20 million of class E senior secured deferrable floating-rate notes at SOFR plus 778 bps and $42.95 million of subordinated notes.
Trinitas Capital Management, LLC will manage the collateral through the end of the reinvestment period on Jan. 20, 2026.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 20, 2025.
J.P. Morgan Securities LLC was the placement agent.
The credit investment management firm is based in Dallas.
| Issuer: | Trinitas CLO XXVI Ltd./Trinitas CLO XXVI LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $502.95 million
|
| Maturity: | Jan. 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | Trinitas Capital Management, LLC
|
| Call feature: | Jan. 20, 2025
|
| Pricing date: | Jan. 18
|
| Settlement date: | Jan. 22
|
|
|
| Class A-1 notes
|
| Amount: | $315 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 169 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $12.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $52.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 295 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 450 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 778 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $42.95 million
|
| Securities: | Subordinated notes
|
|
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