Neuberger Berman plans $459.5 million notes due 2027 in refinancing

By Tali Rackner

Norfolk, Va., Oct. 24 – Neuberger Berman Investment Advisers LLC intends to price $459.5 million of notes due Nov. 14, 2027 for Neuberger Berman CLO XVIII, Ltd./Neuberger Berman CLO XVIII, LLC in a refinancing, according to a press release.

The transaction includes $307.5 million of class A-1-R notes (Aaa(sf)/AAA(sf)); $65 million of class A-2-R notes (AA(sf)); $37 million of class B-R notes (A(sf)); $30 million of class C-R notes (BBB(sf)); and $20 million of class D-R notes (BB(sf).

The notes would be issued on Nov. 14, when the existing secured notes would be redeemed with the proceeds.

Wells Fargo Bank, NA is the trustee.

Neuberger Berman Investment Advisers will manage the CLO.

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