Chicago, Aug. 10 – Neuberger Berman Loan Advisers II LLC sold $612.5 million in a collateralized loan obligation being issued by Neuberger Berman Loan Advisers CLO 43 Ltd./Neuberger Berman Loan Advisers CLO 43 LLC, according to a pre-sale report.
The notes will mature on July 17, 2035.
The CLO consists of $366 million of class A senior secured floating-rate notes at Libor plus 113 basis points, $90 million of class B senior secured floating-rate notes at Libor plus 160 bps, $36 million of class C senior secured deferrable floating-rate notes at Libor plus 195 bps, $34.5 million of class D senior secured deferrable floating-rate notes at Libor plus 310 bps, $22.5 million of class E senior secured deferrable floating-rate notes at Libor plus 600 bps and $63.5 million of subordinated notes..
Neuberger Berman Loan Advisers II LLC will manage the collateral through the end of the reinvestment period on July 17, 2026.
The notes can be called starting July 17, 2023.
Barclays was the placement agent.
The Chicago-based investment management firm is an affiliate of Neuberger Berman Group LLC.
| Issuer: | Neuberger Berman Loan Advisers CLO 43 Ltd./Neuberger Berman Loan Advisers CLO 43 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $612.5 million
|
| Maturity: | July 17, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Neuberger Berman Loan Advisers II LLC
|
| Call feature: | July 17, 2023
|
| Settlement date: | Aug. 5
|
|
|
| Class A notes
|
| Amount: | $366 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 113 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $90 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 195 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $34.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 310 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $22.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 600 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $63.5 million
|
| Securities: | Subordinated notes
|
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