Chicago, June 24 – Columbia Cent CLO Advisers LLC sold $351.625 million in a collateralized loan obligation being issued by Columbia Cent CLO 32 Ltd./Columbia Cent CLO 32 Corp., according to a presale report.
The notes will mature on July 20, 2034.
The CLO consists of $2 million of class X senior secured floating-rate notes at SOFR plus 150 basis points, $150 million of class A-1 senior secured floating-rate notes at SOFR plus 170 bps, $50 million of class A-1 senior secured floating-rate loans at SOFR plus 170 bps, $24 million of class A-F 4.49% senior secured fixed-rate notes, $7 million of class A-FJ 4.82% senior secured fixed-rate notes, $15 million of class B-1 senior secured floating-rate notes at SOFR plus 240 bps, $20 million of class B-F 5.2% senior secured fixed-rate notes, $16 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 317 bps, $5 million of class C-2 5.97% senior secured deferrable fixed-rate notes, $21 million of class D senior secured deferrable floating-rate notes at SOFR plus 420 bps, $11.375 million of class E senior secured deferrable floating-rate notes at SOFR plus 807 bps and $30.25 million of subordinated notes.
Columbia Cent CLO Advisers LLC will manage the collateral through the end of the reinvestment period on April 20, 2026.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 20, 2024.
Jefferies LLC was the placement agent.
Columbia is an investment management firm based in Boston.
| Issuer: | Columbia Cent CLO 32 Ltd./Columbia Cent CLO 32 Corp.
|
| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
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| Amount: | $351.625 million
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| Maturity: | July 20, 2034
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| Structure: | Cash flow CLO
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| Placement agent: | Jefferies LLC
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| Manager: | Columbia Cent CLO Advisers LLC
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| Call feature: | Jan. 20, 2024
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| Settlement date: | July 20
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|
| Class X notes
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| Amount: | $2 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | SOFR plus 150 bps
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| Rating: | S&P: AAA
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|
|
| Class A-1 notes
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| Amount: | $150 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | SOFR plus 170 bps
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| Rating: | S&P: AAA
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|
|
| Class A-1 loans
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| Amount: | $50 million
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| Securities: | Senior secured floating-rate loans
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| Coupon: | SOFR plus 170 bps
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| Rating: | S&P: AAA
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|
|
| Class A-F notes
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| Amount: | $24 million
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| Securities: | Senior secured fixed-rate notes
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| Coupon: | 4.49%
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| Rating: | S&P: AAA
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|
|
| Class A-FJ notes
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| Amount: | $7 million
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| Securities: | Senior secured fixed-rate notes
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| Coupon: | 4.82%
|
| Rating: | S&P: AAA
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|
|
| Class B-1 notes
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| Amount: | $15 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | SOFR plus 240 bps
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| Rating: | S&P: AA
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|
|
| Class B-F notes
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| Amount: | $20 million
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| Securities: | Senior secured fixed-rate notes
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| Coupon: | 5.2%
|
| Rating: | S&P: AA
|
|
|
| Class C-1 notes
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| Amount: | $16 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 317 bps
|
| Rating: | S&P: A
|
|
|
| Class C-2 notes
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| Amount: | $5 million
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| Securities: | Senior secured deferrable fixed-rate notes
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| Coupon: | 5.97%
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $21 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 420 bps
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| Rating: | S&P: BBB-
|
|
|
| Class E notes
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| Amount: | $11.375 million
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| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 807 bps
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| Rating: | S&P: BB-
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|
|
| Subordinated notes
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| Amount: | $30.25 million
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| Securities: | Subordinated notes
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