Chicago, March 21 – Trinitas Capital Management LLC sold $507.9 million in a collateralized loan obligation being issued by Trinitas CLO XXVII Ltd./Trinitas CLO XXVII LLC, according to a presale report.
The notes will mature on April 18, 2037.
The CLO consists of $312.5 million of class A-1 senior secured floating-rate notes at SOFR plus 155 basis points, $12.5 million of class A-2 senior secured floating-rate notes at SOFR plus 185 bps, $55 million of class B senior secured floating-rate notes at SOFR plus 220 bps, $20 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 280 bps, $10 million of class C-2 6.62% senior secured deferrable fixed-rate notes, $25 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 430 bps, $10 million of class D-2 9.5% senior secured deferrable fixed-rate notes, $12.5 million of class E senior secured deferrable floating-rate notes at SOFR plus 733 bps and $50.4 million of subordinated notes.
Trinitas Capital Management LLC will manage the collateral through the end of the reinvestment period on April 18, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 18, 2026.
BofA Securities Inc. was the placement agent.
The credit investment management firm is based in Dallas.
| Issuer: | Trinitas CLO XXVII Ltd./Trinitas CLO XXVII LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $507.9 million
|
| Maturity: | April 18, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | Trinitas Capital Management LLC
|
| Call feature: | April 18, 2026
|
| Pricing date: | March 15
|
| Settlement date: | March 22
|
|
|
| Class A-1 notes
|
| Amount: | $312.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 155 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $12.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 185 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $55 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus 220 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-1 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 280 bps
|
| Rating: | S&P: A
|
|
|
| Class C-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 6.62%
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 430 bps
|
| Rating: | S&P: BBB+
|
|
|
| Class D-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 9.5%
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $12.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 733 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $50.4 million
|
| Securities: | Subordinated notes
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
