Chicago, May 9 – Trinitas Capital Management, LLC reset for €403.15 million the collateralized loan obligation issued by Trinitas Euro CLO II DAC, according to the listing particulars.
The notes will mature on April 15, 2035.
The reset CLO consists of €2.3 million of class X senior secured floating-rate notes at Euribor plus 70 basis points, €248 million of class A senior secured floating-rate notes at Euribor plus 117 bps, €34 million of class B senior secured floating-rate notes at Euribor plus 270 bps, €28.5 million of class C senior secured deferrable floating-rate notes at Euribor plus 375 bps, €28 million of class D senior secured deferrable floating-rate notes at Euribor plus 463 bps, €19.5 million of class E senior secured deferrable floating-rate notes at Euribor plus 723 bps, €14 million of class F senior secured deferrable floating-rate notes at Euribor plus 1,003 bps, €22 million of original subordinated notes and an additional €6.85 million of subordinated notes.
Trinitas Capital Management, LLC will manage the collateral through the end of the reinvestment period on April 15, 2025.
Collateral for the notes consists of senior secured obligations, including senior, mezzanine, second-lien loans and high-yield bonds.
The notes can be called starting Oct. 28, 2023.
BNP Paribas was the placement agent.
Trinitas Capital Management is a Dallas-based credit-focused investment management firm.
| Issuer: | Trinitas Euro CLO II DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €403.15 million
|
| Maturity: | April 15, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas
|
| Manager: | Trinitas Capital Management, LLC
|
| Call feature: | Oct. 28, 2023
|
| Settlement date: | April 27
|
|
|
| Class X notes
|
| Amount: | €2.3 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 70 bps
|
| Price: | Par
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A notes
|
| Amount: | €248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 117 bps
|
| Price: | Par
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €34 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 270 bps
|
| Price: | Par
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €28.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 375 bps
|
| Price: | 99.75
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €28 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 463 bps
|
| Price: | 99
|
| Rating: | S&P: BBB-
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €19.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 723 bps
|
| Price: | 96
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €14 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 1,003 bps
|
| Price: | 94
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €22 million
|
| Securities: | Subordinated notes
|
|
|
| Subordinated notes
|
| Amount: | €6.85 million
|
| Securities: | Subordinated notes
|
| Price: | 91
|
|
|
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