Triumph brings $416 million Trinitas CLO II; H.I.G. Capital preps deal; pipeline steady

By Cristal Cody

Tupelo, Miss., June 24 – Triumph Capital Advisors, LLC returned to the primary market with a $416,125,000 collateralized loan obligation deal, according to details from a market source on Tuesday.

The firm priced the class A-1 AAA notes at Libor plus 127 basis points and the class A-2 AAA tranche at Libor plus 160 bps.

The deal brings issuance over the month to about $11 billion, a source said.

Less than $12 billion of CLO transactions remain in the deal pipeline, including an upcoming $414.25 million offering from H.I.G. Capital, LLC, according to market sources.

Triumph Capital Advisors priced $416,125,000 of notes due 2026 in the Trinitas CLO II Ltd./Trinitas CLO II LLC deal, according to a market source.

Nomura Securities International Inc. was the placement agent.

Triumph Capital Advisors will manage the CLO, which is backed primary by broadly syndicated senior secured loans.

The subsidiary of Dallas-based Triumph Bancorp, Inc. was in the primary market last on March 31 with the $400 million Trinitas CLO I, Ltd. transaction.

H.I.G. Capital plans to offer $414.25 million of notes due 2026 in the WhiteHorse IX Ltd./WhiteHorse IX LLC CLO transaction, according to a market source.

BofA Merrill Lynch is the placement agent.

H.I.G. WhiteHorse Capital, the credit affiliate of H.I.G. Capital, will manage the CLO.

Collateral consists primarily of broadly syndicated first-lien senior secured loans.

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