Chicago, Dec. 22 – Columbia Management Investment Advisers LLC refinanced and extended for $402.3 million the collateralized loan obligation issued by Columbia Cent CLO 29 Ltd./Columbia Cent CLO 29 Corp., according to a pre-sale report.
The notes will now mature on Oct. 20, 2034.
The refinanced CLO consists of $256 million of class A-R senior secured floating-rate notes at Libor plus 117 basis points, $48 million of class B-R senior secured floating-rate notes at Libor plus 170 bps, $24 million of class C-R senior secured deferrable floating-rate notes at Libor plus 220 bps, $20 million of class D-1-R senior secured deferrable floating-rate notes at Libor plus 360 bps, $8 million of class D-2-R senior secured deferrable floating-rate notes at Libor plus 525 bps, $12 million of class E-R senior secured deferrable floating-rate notes at Libor plus 686 bps and $34.3 million of subordinated notes.
Columbia Management Investment Advisers LLC will manage the collateral through the end of the reinvestment period on Oct. 20, 2026.
Collateral comes from a pool of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 20, 2023.
Jefferies LLC was the placement agent.
Columbia Management Investment is an investment management firm based in Boston.
| Issuer: | Columbia Cent CLO 29 Ltd./Columbia Cent CLO 29 Corp.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $402.3 million
|
| Maturity: | Oct. 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | Columbia Management Investment Advisers LLC
|
| Call feature: | Oct. 20, 2023
|
| Settlement date: | Nov. 12
|
|
|
| Class A-R notes
|
| Amount: | $256 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 117 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $48 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 220 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1-R notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 360 bps
|
| Rating: | S&P: BBB
|
|
|
| Class D-2-R notes
|
| Amount: | $8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 525 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 686 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $34.3 million
|
| Securities: | Subordinated notes
|
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