Chicago, Jan. 6 – Neuberger Berman Loan Advisers II LLC sold $483.3 million in a collateralized loan obligation being issued by Neuberger Berman Loan Advisers NBLA CLO 52, Ltd., according to a presale report.
The notes will mature on October 2035.
The CLO consists of $285.7 million of class A-1A senior secured floating-rate notes at SOFR plus basis points, $15 million of class A-1B senior secured floating-rate notes at SOFR plus bps, $9.7 million of class A-2 4.52% senior secured fixed-rate notes, $52.85 million of class B senior secured floating-rate notes at SOFR plus bps, $29.6 million of class C 5.02% senior secured fixed-rate notes, $30.8 million of class D senior secured deferrable floating-rate notes at SOFR plus bps, $10.9 million of class E senior secured deferrable floating-rate notes at SOFR plus bps, $600,000 of class F senior secured deferrable floating-rate notes at SOFR plus bps and $48.15 million of subordinated notes.
Neuberger Berman Loan Advisers II LLC will manage the collateral through the end of the reinvestment period on Oct. 25, 2027.
Collateral for the notes consists of non-investment-grade broadly syndicated loans.
The notes can be called starting Oct. 24, 2024.
Barclays was the placement agent.
The Chicago-based investment management firm is an affiliate of Neuberger Berman Group LLC.
| Issuer: | Neuberger Berman Loan Advisers NBLA CLO 52, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $483.3 million
|
| Maturity: | October 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Neuberger Berman Loan Advisers II LLC
|
| Call feature: | Oct. 24, 2024
|
| Settlement date: | Dec. 19
|
|
|
| Class A-1A notes
|
| Amount: | $285.7 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1B notes
|
| Amount: | $15 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus bps
|
| Rating: | Moody's: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $9.7 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 4.52%
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $52.85 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $29.6 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.02%
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $30.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $10.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus bps
|
| Rating: | Fitch: BB+
|
|
|
| Class F notes
|
| Amount: | $600,000
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $48.15 million
|
| Securities: | Subordinated notes
|
|
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