Trinity Capital prices $350M offering of 7.5% notes
Equipment finance one of asset manager's five verticals
Trinity Capital priced a $350 million underwritten public offering of 7.5% unsecured notes due 2032.
The notes will mature Jan. 15, 2032, with interest payable semiannually beginning Jan. 15, 2027, according to a Sept. 30 Trinity Capital release. The company may redeem the notes in whole or in part at par, plus a make-whole premium when applicable.
Trinity expects the offering to close Oct. 5, subject to customary closing conditions. The company intends to use the net proceeds to repay a portion of outstanding debt under its KeyBank credit facility and for general corporate purposes.
Keefe, Bruyette & Woods, a Stifel company, and MUFG Securities Americas are serving as joint book-running managers for the offering, according to the release..
Trinity Capital, a Phoenix-based alternative asset manager, operates across five lending verticals: sponsor finance, equipment finance, tech lending, asset-based lending, and healthcare and life sciences.
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