BNP Paribas prices $612M reset of Trinitas CLO X

BNP Paribas arranged the pricing of an upsized $612.4 million reset of Trinitas CLO X, managed by Trinitas Capital Management.

The new terms on the 2019-vintage CLO include a primary triple-A spread of 138 basis points over the term secured overnight financing rate.

Deal details are as follows:

The non-call period is through Jan. 15, 2024, and the reinvestment period was extended to Jan. 15, 2027.

The vehicle remains compliant with EU risk retention regulations.

Trinitas CLO X was originally priced in March 2019 via Barclays, sized at $609.6 million, with a class A coupon of L+146.