Chicago, Feb. 14 – Neuberger Berman Loan Advisers II LLC sold $612 million in a collateralized loan obligation being issued by Neuberger Berman Loan Advisers CLO 47, Ltd., according to a press release.
The notes will mature on April 14, 2035.
The CLO consists of $384 million of class A senior secured floating-rate notes at SOFR plus 130 basis points, $72 million of class B senior secured floating-rate notes at SOFR plus 180 bps, $36 million of class C senior secured floating-rate notes at SOFR plus 205 bps, $36 million of class D senior secured deferrable floating-rate notes at SOFR plus 310 bps, $24 million of class E senior secured deferrable floating-rate notes at SOFR plus 625 bps and $60 million of subordinated notes.
Neuberger Berman Loan Advisers II LLC will manage the collateral through the end of the 5.1-year reinvestment period.
Backing the notes are first-lien senior secured leveraged loans.
The Chicago-based investment management firm is an affiliate of Neuberger Berman Group LLC.
| Issuer: | Neuberger Berman Loan Advisers CLO 47, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $612 million
|
| Maturity: | April 14, 2035
|
| Structure: | Cash flow CLO
|
| Manager: | Neuberger Berman Loan Advisers II LLC
|
| Settlement date: | Feb. 1
|
|
|
| Class A notes
|
| Amount: | $384 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 130 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $72 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 180 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $36 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 310 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 625 bps
|
| Rating: | Fitch: NR
|
|
|
| Subordinated notes
|
| Amount: | $60 million
|
| Securities: | Subordinated notes
|
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