Citi today priced a $621.475 million CLO for Columbia Management Investment Advisers, according to sources. The deal was upsized from $516.5 million.

The transaction is structured as follows:

The transaction will invest primarily in senior secured first-lien bank loans. It has a springing bond bucket and a 60% covenant-lite loan bucket.

It has a roughly two-year non-call period, and the reinvestment period ends on July 27, 2018. The final maturity is July 27, 2026.

The manager last priced a CLO in December – Cent CLO 20 – via Morgan Stanley.

Including Columbia’s transaction, CLO issuance in the year to date stands at roughly $41.68 billion across 79 deals, according to LCD. 11 deals have priced in May, for a total of about $6.71 billion. – Sarah Husband