Neuberger Berman CLO XVI to redeem secured, subordinated notes Jan. 16

By Sarah Lizee

Olympia, Wash., Nov. 17 – Neuberger Berman CLO XVI, Ltd./Neuberger Berman CLO XVI, LLC said it will redeem nine classes of secured notes and the subordinated notes on Jan. 16, according to a notice.

The following will be redeemed at par plus accrued interest up to but excluding the redemption date:

• $330.5 million of the class A-1-R notes;

• $5 million of the class A-2-R notes;

• $50 million of the class B-1 notes;

• $18.75 million of the class B-2-R notes;

• $41.5 million of the class C-1 notes;

• $1 million of the class C-2-R notes;

• $33.75 million of the class D notes;

• $25.5 million of the class E notes; and

• $12.5 million of the class F notes.

For the subordinated notes, the redemption price will be the respective proportional share of the amount of the proceeds of the assets remaining after giving effect to the redemption of the secured notes and full payment of all expenses.

U.S. Bank NA is the trustee.

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