Chicago, Feb. 5 – Trinitas Capital Management LLC priced €506.54 million of notes in a collateralized loan obligation being issued by Trinitas Euro CLO VI DAC, according to a presale report.
The notes will mature on April 15, 2037.
The CLO consists of €300 million of class A floating-rate notes at Euribor plus 160 basis points, €60 million of class B floating-rate notes at Euribor plus 245 bps, €34.1 million of class C floating-rate notes at Euribor plus 295 bps, €33.4 million of class D floating-rate notes at Euribor plus 440 bps, €20 million of class E floating-rate notes at Euribor plus 638 bps, €15 million of class F floating-rate notes at Euribor plus 831 bps and €44.04 million of subordinated notes.
Trinitas Capital Management LLC will manage the collateral through the end of the reinvestment period on Aug. 28, 2028.
Collateral for the notes consists of syndicated speculative-grade senior secured term loans and bonds.
The notes can be called starting Aug. 28, 2025.
Morgan Stanley & Co. International plc was the placement agent.
Trinitas Capital Management is a Dallas-based credit-focused investment management firm. The issuer is incorporated in Dublin.
| Issuer: | Trinitas Euro CLO VI DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €506.54 million
|
| Maturity: | April 15, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. International plc
|
| Manager: | Trinitas Capital Management LLC
|
| Call feature: | Aug. 28, 2025
|
| Pricing date: | Jan. 29, 2024
|
| Settlement date: | Feb. 28
|
|
|
| Class A notes
|
| Amount: | €300 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 160 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | €60 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 245 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | €34.1 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 295 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | €33.4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 440 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | €20 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 638 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €15 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 831 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €44.04 million
|
| Securities: | Subordinated notes
|
|
|
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