Triumph Capital prices $654.3 million CLO; KKR Financial brings deal; Audax in primary

By Cristal Cody

Tupelo, Miss., Feb. 14 – Triumph Capital Management, LLC tapped the primary market with a $654.3 million broadly syndicated CLO.

KKR Financial Advisors II, LLC priced $452.5 million of notes in a new CLO deal.

In addition, Audax Management Co. (NY) LLC sold $325.06 million of notes in a CLO deal backed by broadly syndicated and middle-market first-lien senior secured loans.

Elsewhere, outflows from leveraged loans declined to $163 million for the past week ended Wednesday from a $487 million outflow in the prior week, according to Fitch Ratings on Friday.

Year-to-date net flows stand at $545 million of outflows.

Triumph brings CLO XII

Triumph Capital Management priced $654.3 million of notes due April 25, 2033 in the offering, according to a market source.

Trinitas CLO XII Ltd./Trinitas CLO XII LLC sold $416 million of class A floating-rate notes at Libor plus 131 basis points in the AAA-rated tranche.

J.P. Morgan Securities LLC was the placement agent.

The CLO is collateralized primarily by broadly syndicated senior secured corporate loans.

Triumph is a subsidiary of Dallas-based Triumph Bancorp, Inc.

KKR sells $452.5 million

KKR Financial Advisors II priced $452.5 million of notes due March 15, 2031 in the KKR CLO 28 Ltd./KKR CLO 28 LLC transaction, according to a market source.

The CLO sold $288 million of the class A floating-rate notes at Libor plus 114 bps.

Barclays was the placement agent.

The offering is collateralized primarily by broadly syndicated first-lien senior secured corporate loans.

The investment firm is a subsidiary of San Francisco-based KKR Credit Advisors (US) LLC.

Audax prices CLO

Audax Management priced $325,055,000 of notes due Jan. 20, 2030 in its transaction, according to market sources.

Audax Senior Debt CLO III LLC sold $186,875,000 of class A floating-rate notes at Libor plus 161 bps in the senior tranche.

Wells Fargo Securities, LLC was the placement agent.

Audax Management Co. (NY) priced two CLOs in 2019.

The private equity firm is part of Boston-based middle-market investment firm Audax Group, Inc.

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