Neuberger Berman offers $361.5 million CLO; deal pipeline slowly fills; primary pace light

By Cristal Cody

Tupelo, Miss., Feb. 18 – The CLO deal calendar is slowly filling as primary action remains light year to date, according to market sources on Thursday.

Neuberger Berman Fixed Income LLC is marketing a $361.5 million CLO transaction.

The Neuberger Berman CLO XXI, Ltd./Neuberger Berman CLO XXI, LLC offering includes $3 million of class X floating-rate notes (AAA); $223.2 million of class A floating-rate notes (AAA); $45 million of class B floating-rate notes; $23.4 million of class C deferrable floating-rate notes; $19.8 million of class D deferrable floating-rate notes; $16.2 million of class E deferrable floating-rate notes and $30.9 million of subordinated notes.

Also coming up in the pipeline, Crestline Denali Capital, LP plans to price $358.28 million of notes in the Denali Capital CLO XII, Ltd./Denali Capital CLO XII LLC deal via BNP Paribas Securities Corp.

Prudential Investment Management, Inc. has a $507.75 million transaction in the works. The Dryden 42 Senior Loan Fund/Dryden 42 Senior Loan Fund LLC deal is expected to price via BNP Paribas Securities Corp.

In addition, CreekSource LLC is on the calendar with the $300 million Mill Creek CLO II, Ltd./Mill Creek CLO II LLC transaction. Goldman Sachs & Co. is the placement agent.

U.S. CLO managers have priced $826 million in two broadly syndicated CLO deals year to date and $348,006,000 in one middle-market-backed CLO offering, according to Prospect News data.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.