By Cristal Cody
Tupelo, Miss., May 19 - Columbia Management Investment Advisors, LLC priced $621.05 million of notes in a collateralized loan obligation deal, according to an informed source.
Cent CLO 21 Ltd./Cent CLO 21 Corp. sold $137 million of class A-1A floating-rate notes at Libor plus 149 basis points, $250 million of 1.39% class A-1B fixed-rate notes, $62 million of class A-2A floating-rate notes at Libor plus 200 bps and $10 million of 4.01% class A-2B fixed-rate notes.
The CLO also priced $39 million of class B floating-rate notes at Libor plus 280 bps, $33 million of class C floating-rate notes at Libor plus 350 bps, $24 million of class D floating-rate notes at Libor plus 500 bps, $12 million of class E floating-rate notes at Libor plus 575 bps and $54.05 million of subordinated notes.
Citigroup Global Markets Inc. was the placement agent.
Columbia Management Investment Advisors will manage the CLO.
The Boston-based investment management firm priced four CLO deals in 2013.
Issuer: | Cent CLO 21 Ltd./Cent CLO 21 Corp.
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Amount: | $621.05 million
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Securities: | Fixed-rate, floating-rate and subordinated notes
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Structure: | Cash flow CLO
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Placement agent: | Citigroup Global Markets Inc.
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Manager: | Columbia Management Investment Advisors, LLC
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Pricing date: | May 15
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Class A-1A notes
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Amount: | $137 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 149 bps
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Expected ratings: | Moody's: Aaa
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| Standard & Poor's: AAA
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Class A-1B notes
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Amount: | $250 million
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Securities: | Fixed-rate notes
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Coupon: | 1.39%
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Expected ratings: | Moody's: Aaa
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| Standard & Poor's: AAA
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Class A-2A notes
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Amount: | $62 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 200 bps
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Expected rating: | Standard & Poor's: AA
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Class A-2B notes
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Amount: | $10 million
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Securities: | Fixed-rate notes
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Coupon: | 4.01%
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Expected rating: | Standard & Poor's: AA
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Class B notes
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Amount: | $39 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 280 bps
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Expected rating: | Standard & Poor's: A
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Class C notes
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Amount: | $33 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 350 bps
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Expected rating: | Standard & Poor's: BBB
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Class D notes
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Amount: | $24 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 500 bps
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Expected rating: | Standard & Poor's: BB
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Class E notes
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Amount: | $12 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 575 bps
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Expected rating: | Standard & Poor's: B
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Equity tranche
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Amount: | $54.05 million
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Securities: | Subordinated notes
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Expected rating: | Non-rated
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