Trinity Capital Upsizes Senior Note Offering to $350M at 7.500% Coupon
TRIN sits 26% above its 52-week low of $14.13.
Summary
Trinity Capital priced $350 million of 7.500% senior notes due 2032, upsizing the offering by $50 million from the preliminary $300 million and tightening the spread to +262.5bps. Proceeds will refinance KeyBank Credit Facility debt. The offering closed on October 5, 2026, with net proceeds of approximately $342.61 million to repay KeyBank secured indebtedness.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — Trinity Capital closed the $350 million 7.500% notes offering on October 5, 2026, with net proceeds of approximately $342.61 million to repay KeyBank secured indebtedness.
· PR Newswire — Trinity Capital priced a $350 million offering of 7.50% senior notes due 2032, upsized from $300 million.
- The offering will increase leverage.
- The offering provides funding for portfolio growth.
Key Events · Financing and Capital Events · TRIN
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Updated · · PR Newswire
$350M Senior Note Offering Priced
Trinity Capital priced $350 million of 7.500% senior unsecured notes due January 15, 2032, upsizing from the $300 million indicated in the preliminary prospectus. The offering will increase leverage and provides funding for portfolio growth.
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Updated · · SEC 8-K
Offering Closed October 5, 2026
The offering closed on October 5, 2026, with net proceeds of approximately $342.61 million to repay KeyBank secured indebtedness. KBW and MUFG acted as joint book-running managers with 10 co-managers.
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Coupon and Yield Set
The notes carry a 7.500% coupon with a yield to maturity of 7.714%, priced at 99.104% of par. Spread to benchmark Treasury tightened to +262.5bps from the preliminary +287.5bps.
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Proceeds to Refinance KeyBank Facility
Use of proceeds will pay down a portion of existing indebtedness under the KeyBank Credit Facility, with the remainder for general corporate purposes.
Analysis · TRIN · Unknown
Trinity Capital finalized terms on its senior unsecured note offering, increasing the deal size from $300 million to $350 million and setting a 7.500% coupon with a yield to maturity of 7.714%. The spread to benchmark Treasuries tightened to +262.5 basis points from the +287.5bps indicated in the preliminary pricing, reflecting solid investor demand. Proceeds will pay down the KeyBank Credit Facility, reducing secured leverage in favor of unsecured debt. The notes carry investment-grade ratings (Baa3/BBB/BBB) and settled October 5, 2026, with net proceeds of approximately $342.61 million to repay KeyBank secured indebtedness. The offering will increase leverage and provides funding for portfolio growth.
How filings like this one have moved
In the 30 days to Oct 6, 2026, 28.9% of the 1573 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, TRIN was trading at $17.75 on NYSE in the Unknown sector, with a market capitalization of approximately $1.7B. The 52-week trading range was $14.13 to $18.90. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.