Chicago, Dec. 9 – Neuberger Berman Europe Ltd. sold €295.1 million in a collateralized loan obligation being issued by Neuberger Berman Loan Advisers Euro CLO 5 DAC, according to an offering document.
The notes will mature on Oct. 20, 2036.
The CLO consists of €173 million of class A senior secured floating-rate notes at Euribor plus 209 basis points, €38.5 million of class B senior secured floating-rate notes at Euribor plus 406 bps, €16.1 million of class C senior secured deferrable floating-rate notes at Euribor plus 463 bps, €20.3 million of class D senior secured deferrable floating-rate notes at Euribor plus 616 bps, €12.1 million of class E senior secured deferrable floating-rate notes at Euribor plus 854 bps, €10.1 million of class F senior secured deferrable floating-rate notes at Euribor plus 957 bps and €25 million of subordinated notes.
Neuberger Berman Europe Ltd. will manage the collateral through the end of the reinvestment period on Dec. 6, 2023.
Collateral for the notes consists of senior secured loans and senior secured bonds.
The notes can be called starting Dec. 6, 2023.
Credit Suisse International was the placement agent.
The managing firm is based in London.
| Issuer: | Neuberger Berman Loan Advisers Euro CLO 5 DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €295.1 million
|
| Maturity: | Oct. 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Credit Suisse International
|
| Manager: | Neuberger Berman Europe Ltd.
|
| Call feature: | Dec. 6, 2023
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 6
|
|
|
| Class A notes
|
| Amount: | €173 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 209 bps
|
| Price: | 99.55
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €38.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 406 bps
|
| Price: | 99
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €16.1 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 463 bps
|
| Price: | 97
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €20.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 616 bps
|
| Price: | 95
|
| Rating: | S&P: BBB-
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €12.1 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 854 bps
|
| Price: | 90
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €10.1 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 957 bps
|
| Price: | 83
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €25 million
|
| Securities: | Subordinated notes
|
| Price: | 90
|
|
|
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