Chicago, May 23 – Trinitas Capital Management LLC sold $402.46 million of notes in a collateralized loan obligation issued by Trinitas CLO XXII Ltd./Trinitas CLO XXII LLC, according to a presale report.
The notes will mature on July 20, 2036.
The CLO consists of $252 million of class A-1 senior secured floating-rate notes at SOFR plus 185 basis points, $8 million of class A-2 senior secured floating-rate notes at SOFR plus 240 bps, $37 million of class B-1 senior secured floating-rate notes at SOFR plus 290 bps, $7 million of class B-2 6.25% senior secured fixed-rate notes, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 380 bps, $22 million of class D senior secured deferrable floating-rate notes at SOFR plus 619 bps, $12 million of class E senior secured deferrable floating-rate notes at SOFR plus 871 bps and $40.46 million of subordinated notes.
Trinitas Capital Management LLC will manage the collateral through the end of the reinvestment period on July 20, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting May 11, 2025.
Citigroup Global Markets Inc. was the placement agent.
The credit investment management firm is based in Dallas.
| Issuer: | Trinitas CLO XXII Ltd./Trinitas CLO XXII LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $402.46 million
|
| Maturity: | July 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Trinitas Capital Management LLC
|
| Call feature: | May 11, 2025
|
| Settlement date: | May 11
|
|
|
| Class A-1 notes
|
| Amount: | $252 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 185 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | $37 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 290 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $7 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.25%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 380 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 619 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 871 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $40.46 million
|
| Securities: | Subordinated notes
|
|
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