Trinity Capital prices $350 million notes offering at 7.50%

Phoenix-based Trinity Capital Inc. priced an $350 million offering of 7.50% notes with a maturity date of January 15, 2032, according to a press release. These unsecured notes, bearing interest at 7.50% per year, will commence payments in January 2027. The notes can be redeemed at the company's discretion, either fully or partially, at par plus a potential make whole premium.

Trinity Capital intends to utilize the proceeds from this offering to reduce its existing debt under the KeyBank Credit Facility and for general corporate needs. Investment banks Keefe, Bruyette & Woods, A Stifel Company, and MUFG Securities Americas Inc. are jointly managing the underwriting. Trinity Capital is an international firm that manages investments in growth-oriented companies across five lending sectors. The company is based in Phoenix, Arizona.