Chicago, Jan. 17 – Neuberger Berman Loan Advisers II LLC sold $352.8 million in a collateralized loan obligation issued by Neuberger Berman Loan Advisers NBLA CLO 53, Ltd., according to a new issue report.
The notes will mature on Oct. 24, 2032.
The CLO consists of $232.75 million of class A senior secured floating-rate notes at SOFR plus 159 basis points, $38.5 million of class B senior secured floating-rate notes at SOFR plus 225 bps, $19.25 million of class C senior secured deferrable floating-rate notes at SOFR plus 260 bps, $21 million of class D senior secured deferrable floating-rate notes at SOFR plus 450 bps, $10.5 million of class E senior secured deferrable floating-rate notes at SOFR plus 762.5 bps and $30.8 million of subordinated notes.
Neuberger Berman Loan Advisers II LLC will manage the collateral through the end of the 0.9-year reinvestment period.
Collateral for the notes consists of first-lien senior secured loans.
The notes can be called starting .
The Chicago-based investment management firm is an affiliate of Neuberger Berman Group LLC.
| Issuer: | Neuberger Berman Loan Advisers NBLA CLO 53, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $352.8 million
|
| Maturity: | Oct. 24, 2032
|
| Structure: | Cash flow CLO
|
| Manager: | Neuberger Berman Loan Advisers II LLC
|
| Settlement date: | Nov. 16
|
|
|
| Class A notes
|
| Amount: | $232.75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 159 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $38.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 225 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $19.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 260 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 450 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $10.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 762.5 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $30.8 million
|
| Securities: | Subordinated notes
|
|
|
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