Neuberger Berman CLO XXIII set to redeem five note classes Oct. 17

By Sarah Lizee

Olympia, Wash., Sept. 26 – Neuberger Berman CLO XXIII, Ltd./Neuberger Berman CLO XXIII, LLC will redeem five classes of secured notes on Oct. 17, according to a notice.

As previously reported, the issuer received direction from a majority of its subordinated noteholders to redeem the notes from refinancing proceeds.

The following will be redeemed at par plus accrued interest:

• $248 million of class A notes for a redemption price of $250,386,807.11;

• $52 million of class B notes for a redemption price of $52,549,628.44;

• $26 million of class C notes for a redemption price of $26,324,647.56;

• $25 million of class D notes for a redemption price of $25,390,105.56; and

• $17 million of class E notes for a redemption price of $17,387,350.67.

The subordinated notes and subordinated fee notes will not be redeemed.

Neuberger also plans to enter into a supplemental indenture on Oct. 17 and issue new class A-R, B-R, C-R, D-R and E-R replacement notes due October 2027.

U.S. Bank NA is the trustee.

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