J.P. Morgan today priced a $717.1 million CLO from Trinitas Capital Management, according to market sources. Pine Brook is the services provider for the manager following its acquisition of Triumph Capital Advisors in March.
The transaction is structured to comply with risk retention in the U.S., with the manager retaining a horizontal slice, as well as in Europe via the originator route.
The transaction will close on June 20, with the non-call period running until July 25, 2019, and the reinvestment period running until July 25, 2021. The legal final maturity is on July 25, 2029.
Year-to-date issuance is now $32.07 billion from 58 transactions, according to LCD data. This is the ninth new issue in May for a total of $4.44 billion. — Andrew Park
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