Triumph Capital prices $556.5 million CLO; Rockford Tower sells $506.5 million notes

By Cristal Cody

Tupelo, Miss., July 25 – Triumph Capital Management, LLC closed Thursday on $556.5 million of notes in the manager’s second new CLO offering of the year.

In other new issuance, details emerged on a $506.5 million new broadly syndicated CLO transaction that Rockford Tower Capital Management, LLC priced. The deal is the manager’s second CLO offering priced year to date.

About $60 billion of new broadly syndicated CLOs have priced so far this year, market sources report.

In is deal, Triumph Capital Management sold $556.5 million of notes due July 15, 2032 in the new CLO offering, according to market sources.

At the top of the capital stack, Trinitas CLO XI Ltd./Trinitas CLO XI LLC sold $204.82 million of class A loans at Libor plus 150 basis points, $173.91 million of class A-1 floating-rate notes at Libor plus 136 bps and $5.61 million of class A-2 floating-rate notes at Libor plus 195 bps.

Goldman Sachs & Co. LLC was the placement agent.

Meanwhile, Rockford Tower Capital Management priced $506.5 million of notes in its broadly syndicated CLO transaction, according to a market source.

Rockford Tower CLO 2019-2, Ltd./Rockford Tower CLO 2019-2, LLC sold $325 million of class A floating-rate notes at Libor plus 133 bps in the AAA-rated tranche.

J.P. Morgan Securities LLC arranged the offering.

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