Columbia Management Investment to price $411.4 million Cent CLO 19

By Cristal Cody

Tupelo, Miss., Oct. 2 - Columbia Management Investment Advisors, LLC is expected to be in the market later in October with its first collateralized loan obligation since May, according to market sources on Wednesday.

Cent CLO 19 Ltd./Cent CLO 19 Corp. intends to price $100 million of class A-1a senior secured floating-rate notes (Aaa); $10 million of class A-1b senior secured fixed-rate notes (Aaa); $151.2 million of class A-1c senior secured floating-rate notes (Aaa); $12.8 million of class A-2a senior secured floating-rate notes; $20 million of class A-2b senior secured fixed-rate notes; $38 million of class B senior secured deferrable floating-rate notes; $20.9 million of class C deferrable floating-rate notes; $17.5 million of class D deferrable floating-rate notes and $41 million of subordinated notes.

J.P. Morgan Securities LLC is the underwriter.

The notes are due Oct. 15, 2025.

The CLO has a two-year non-call period and a four-year reinvestment period.

The cash flow CLO is collateralized primarily by broadly syndicated senior secured corporate loans.

The deal is expected to close on Nov. 15.

Columbia Management Investment was last in the market when it priced the $527.5 million Cent CLO 18 Ltd./Cent CLO 18 Corp. transaction in May and closed in June.

The investment management firm is based in Boston.

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