By Cristal Cody
Tupelo, Miss., Oct. 1 – Triumph Capital Management, LLC priced $485.35 million of notes due July 25, 2029 in a refinancing of a vintage 2017 collateralized loan obligation offering, according to a notice of revised proposed supplemental indenture on Monday.
Trinitas CLO VI Ltd./Trinitas CLO VI LLC sold $448 million of class A-R floating-rate notes at Libor plus 117 basis points and $37.35 million of class C-R deferrable floating-rate notes at Libor plus 260 bps.
J.P. Morgan Securities LLC was the refinancing placement agent.
The original CLO was issued on June 20, 2017.
The deal is collateralized primarily by broadly syndicated senior secured corporate loans.
The CLO manager has priced two new CLOs and refinanced two vintage CLOs year to date.
Triumph, a subsidiary of Dallas-based Triumph Bancorp, Inc., priced two new CLOs and refinanced two vintage CLOs in 2018.
| Issuer: | Trinitas CLO VI Ltd./Trinitas CLO VI LLC
|
| Amount: | $485.35 million refinancing
|
| Maturity: | July 25, 2029
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | J.P. Morgan Securities LLC
|
| Manager: | Triumph Capital Management, LLC
|
| Settlement date: | Oct. 15
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A-R notes
|
| Amount: | $448 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 117 bps
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA expected
|
|
|
| Class C-R notes
|
| Amount: | $37.35 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 260 bps
|
| Rating: | Moody’s: A2 expected
|
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