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.

In its deal, 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.

Separately, 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.

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