Chicago, Feb. 17 – Columbia Cent CLO Advisers LLC priced $408 million of notes due April 20, 2034, according to a market source.
Columbia Cent CLO 31 Ltd./Columbia Cent CLO 31 Corp. sold $4 million of class X floating-rate notes at Libor plus 100 basis points, $235 million of class A-1 floating-rate notes at Libor plus 120 bps and $25 million of class A-F 1.979% fixed-rate notes.
The CLO also includes $44 million of class B floating-rate notes at Libor plus 155 bps, $24 million of class C deferrable floating-rate notes at Libor plus 225 bps, $26 million of class D deferrable floating-rate notes at Libor plus 333 bps and $14 million of class E deferrable floating-rate notes at Libor plus 655 bps.
There are also $36 million of subordinated notes.
Jefferies LLC is the arranger.
Columbia Cent CLO Advisers LLC is the collateral manager during the reinvestment period, which ends April 20, 2026.
The non-call period ends May 25, 2023.
The top obligor holdings, of the 190 obligors backing the transaction, are based in the following sectors: power project finance, health care providers and services, technology hardware, storage and peripherals and IT services.
Columbia Cent is a subsidiary of Ameriprise Financial.
| Issuer: | Columbia Cent CLO 31 Ltd./Columbia Cent CLO 31 Corp.
|
| Amount: | $408 million
|
| Maturity: | April 20, 2034
|
| Securities: | Floating-rate, fixed-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | Columbia Cent CLO Advisers LLC
|
| Call: | May 25, 2023
|
| Pricing date: | Feb. 17
|
| Settlement date: | Feb. 25
|
|
|
| Class X notes
|
| Amount: | $4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 100 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1 notes
|
| Amount: | $235 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 120 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-F notes
|
| Amount: | $25 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 1.979%
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $44 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 155 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 225 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $26 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 333 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $14 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 655 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $36 million
|
| Securities: | Subordinated notes
|
|
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