Chicago, Dec. 20 – Trinitas Capital Management, LLC sold $483.57 million in a collateralized loan obligation issued by TSTAT 2022-2, Ltd., according to a press release.
The notes will mature on Jan. 20, 2031.
The CLO consists of $300 million of class A-1 senior secured floating-rate notes at SOFR plus 237 basis points, $35 million of class A-2 senior secured floating-rate notes at SOFR plus 318 bps, $45 million of class B senior secured floating-rate notes at SOFR plus 354 bps, $35 million of class C senior secured deferrable floating-rate notes at SOFR plus 480 bps, $17 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 629 bps, $3 million of class D-2 10.19% senior secured deferrable fixed-rate notes, $20.75 million of class E senior secured deferrable floating-rate notes at SOFR plus 821 bps and $27.82 million of subordinated notes.
Trinitas Capital Management, LLC will manage the collateral.
The CLO is static with no reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
The credit investment management firm is based in Dallas.
| Issuer: | TSTAT 2022-2, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $483.57 million
|
| Maturity: | Jan. 20, 2031
|
| Structure: | Cash flow CLO
|
| Manager: | Trinitas Capital Management, LLC
|
| Settlement date: | Nov. 23
|
|
|
| Class A-1 notes
|
| Amount: | $300 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 237 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $35 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 318 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $45 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 354 bps
|
| Rating: | Fitch: AA+
|
|
|
| Class C notes
|
| Amount: | $35 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 480 bps
|
| Rating: | Fitch: A
|
|
|
| Class D-1 notes
|
| Amount: | $17 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 629 bps
|
| Rating: | Fitch: BBB+
|
|
|
| Class D-2 notes
|
| Amount: | $3 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 10.19%
|
| Rating: | Fitch: BBB+
|
|
|
| Class E notes
|
| Amount: | $20.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 821 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $27.82 million
|
| Securities: | Subordinated notes
|
|
|
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