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Triumph prices $374.1 million reset; HPS Investment Partners offers $519.06 million CLO
By Cristal Cody
Tupelo, Miss., Aug. 23 – Triumph Capital Advisors, LLC closed Thursday on a $374.1 million issuance of notes repriced from a 2016 CLO transaction.
The new deal pipeline also remains active.
HPS Investment Partners, LLC plans to price $519.06 million of notes in the manager’s second new issue CLO of the year.
The HPS Loan Management 13-2018 Ltd./HPS Loan Management 13-2018 LLC offering includes $4.1 million of class X floating-rate notes (/AAA/); $303 million of class A-1 floating-rate notes (/AAA/); $28.5 million of class A-2 floating-rate notes (/non-rated/); $47.69 million of class B floating-rate notes (/AA/); $35.45 million of class C floating-rate notes (/A/); $31.37 million of class D floating-rate notes (/BBB-/); $18.25 million of class E floating-rate notes (/BB-/); $9.18 million of class F floating-rate notes (/B-/) and $41.52 million of subordinated notes.
Deutsche Bank Securities Inc. is the placement agent.
In its deal, Triumph Capital Advisors priced $374.1 million of notes in a refinancing of the Trinitas CLO IV Ltd./Trinitas CLO IV LLC offering, according to a market source and a notice of executed supplemental indenture on Thursday.
Trinitas CLO IV sold $196.9 million of class A-1L-R floating-rate notes at the reference rate plus 118 basis points at the top of the capital stack.
Natixis Securities Americas LLC was the refinancing placement agent.
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