Chicago, July 21 – Neuberger Berman Loan Advisers LLC refinanced its portfolio that has Neuberger Berman Loan Advisers CLO 37, Ltd./Neuberger Berman Loan Advisers CLO 37, LLC as co-issuers for $406.4 million, according to a pre-sale report.
The portfolio has a maturity date of July 20, 2031.
The refinance notes are the $256 million of class A-R senior secured floating-rate notes at Libor plus 97 basis points, $48 million of class B-R senior secured floating-rate notes at Libor plus 145 bps, $24 million of class C-R senior secured deferrable floating-rate notes at Libor plus 180 bps, $24 million of class D-R senior secured deferrable floating-rate notes at Libor plus 285 bps and $16 million of class E-R senior secured deferrable floating-rate notes at Libor plus 575 bps.
There are also $38.4 million of subordinated notes.
Credit Suisse Securities (USA) LLC is the initial purchaser.
Neuberger Berman is managing the collateral through the end of the reinvestment period on July 20, 2023.
The notes can be called after Dec. 25.
Neuberger Berman is a Chicago-based investment management firm and affiliate of Neuberger Berman Group, LLC.
| Issuers: | Neuberger Berman Loan Advisers CLO 37, Ltd./Neuberger Berman Loan Advisers CLO 37, LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $406.4 million
|
| Maturity: | July 20, 2031
|
| Structure: | Cash flow CLO
|
| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | Neuberger Berman Loan Advisers LLC
|
| Call feature: | Dec. 25
|
| Settlement date: | June 25
|
|
|
| Class A-R notes
|
| Amount: | $256 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 97 bps
|
| Rating: | Moody's: AAA
|
|
|
| Class B-R notes
|
| Amount: | $48 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 145 bps
|
| Rating: | Moody's: AA
|
|
|
| Class C-R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Rating: | Moody's: A
|
|
|
| Class D-R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 285 bps
|
| Rating: | Moody's: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $16 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 575 bps
|
| Rating: | Moody's: BB-
|
|
|
| Subordinated notes
|
| Amount: | $38.4 million
|
| Securities: | Subordinated notes
|
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