By Cristal Cody
Tupelo, Miss., Dec. 23 – Trinitas Capital Management, LLC priced $10 million of notes due Jan. 20, 2032 in a refinancing of a vintage 2018 collateralized loan obligation offering, according to market sources.
Trinitas CLO IX Ltd./Trinitas CLO IX LLC sold $10 million of 2.88% class B-2-R fixed-rate notes (Aa2).
The coupon declined 218 basis points from issuance.
In the original $611.5 million offering issued Nov. 19, 2018, the CLO priced $10 million of 5.06% class B-2 fixed-rate notes.
Credit Suisse Securities (USA) LLC was the refinancing agent.
The CLO has a three-year reinvestment period remaining.
The deal is collateralized primarily by broadly syndicated senior secured corporate loans.
Proceeds were used to redeem the class B-2 notes.
The credit investment management firm is based in Dallas.
| Issuer: | Trinitas CLO IX Ltd./Trinitas CLO IX LLC
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| Amount: | $10 million refinancing
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| Maturity: | Jan. 20, 2032
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| Securities: | Class B-2-R fixed-rate notes
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| Structure: | Cash flow CLO
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| Refinancing agent: | Credit Suisse Securities (USA) LLC
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| Manager: | Trinitas Capital Management, LLC
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| Coupon: | 2.88%
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 23
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| Ratings: | Moody’s: Aa2
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| Distribution: | Rule 144A and Regulation S
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