This morning I decided to go ahead and take a position in the Trinity Capital 7% Note (TRINL) with a maturity of 1/16/2025. I paid $25.20–a dime more than I wanted to pay–but a fair price.
This is simply locking down what I believe to be a very solid 7% for the next year. Certainly I could garner another 1-2% in yield with other BDC bonds but this one gives me a ‘target’ 7% with virtually no movement of the share price (excepting accrued interest)
Trinity is a $1.3 billion business development company and while they make many term loans they also concentrate on equipment financing.
Thanks tim.
I flipped TRINL soon after it came out and again early last year. Probably a good candidate for another look.
Ha. You’ve reminded me I have 27 shares of TRINL that I’ve completely ignored. left over from a partial sell execution over a year ago Now you’re making me look to see if I want to join you or clean house…. Odds are I’ll tack on.