Trinity Capital raises $300M in 7% unsecured notes to refinance KeyBank secured debt

Filed May 21, 2026 · Period ending May 19, 2026 · ~1 min read

Key Changes

• high

  Trinity issued $300 million of 7.000% Notes due 2031, receiving $294.5M net proceeds after fees. The notes pay interest semi-annually starting November 2026 and can be redeemed early with a premium before April 2031.

  Item 1.01 verify on EDGAR →
• high

  Proceeds will repay secured debt under Trinity's KeyBank credit facility, effectively swapping secured borrowings for unsecured notes at a 7% fixed rate. This changes the company's debt structure and cost of capital.

  Item 1.01 verify on EDGAR →
• medium

  The notes rank junior to all secured debt (to the extent of collateral) and to subsidiary obligations. In a default, noteholders would be paid after secured creditors and subsidiary creditors.

  Item 1.01 verify on EDGAR →