Neuberger Berman offers $505.13 million CLO; secondary volume heavy

By Cristal Cody

Tupelo, Miss., Dec. 3 – Neuberger Berman Loan Advisers LLC is marketing a $505.13 million CLO deal set to close in the new year ahead.

Natixis Securities Americas LLC is the placement agent.

More than $100 billion of new CLOs have priced year to date, though volume is slowing as the year closes, according to market sources.

In the securitized secondary market, Friday ended with heavy trading volume in non-high-grade CBO/CDO/CLO issues, Trace data shows.

The session had $1.45 billion of securities traded, as well as $116.1 million of investment-grade CBO/CDO/CLO securities. The non-investment-grade issues had an average trading price of 81.5, while the investment-grade securities had a 99.3 average trading price.

The previous session was light with only $79.11 million of high-grade CBO/CDO/CLO issues and $23.53 million of lower-rated CBO/CDO/CLO securities traded on Thursday.

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