Chicago, June 6 – Neuberger Berman Loan Advisers II LLC sold $648.8 million in a collateralized loan obligation being issued by Neuberger Berman Loan Advisers CLO 49, Ltd., according to a presale report.
The notes will mature on July 25, 2034.
The CLO consists of $109.6 million of class A senior secured floating-rate notes at SOFR plus 142 basis points, $300 million of class A-L senior secured floating-rate notes at SOFR plus 142 bps, $76.8 million of class B senior secured floating-rate notes at SOFR plus 200 bps, $38.4 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 230 bps, $38.4 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 340 bps, $25.6 million of class E junior secured deferrable floating-rate notes at SOFR plus 700 bps and $60 million of subordinated notes.
Neuberger Berman Loan Advisers II LLC will manage the collateral through the end of the 3.1-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
Citigroup Global Markets Inc. was the placement agent.
The Chicago-based investment management firm is an affiliate of Neuberger Berman Group LLC.
| Issuer: | Neuberger Berman Loan Advisers CLO 49, Ltd.
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | $648.8 million
|
| Maturity: | July 25, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Neuberger Berman Loan Advisers II LLC
|
| Settlement date: | June 13
|
|
|
| Class A notes
|
| Amount: | $109.6 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 142 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-L notes
|
| Amount: | $300 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 142 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $76.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $38.4 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $38.4 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 340 bps
|
| Rating: | Fitch: BBB
|
|
|
| Class E notes
|
| Amount: | $25.6 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 700 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $60 million
|
| Securities: | Subordinated notes
|
|
|
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