Neuberger Berman to start roadshow Wednesday for $800 million notes

By Paul A. Harris

Portland, Ore., March 6 - Neuberger Berman Group LLC and Neuberger Berman Finance Corp. plan to start a roadshow on Wednesday for an $800 million two-part offering of senior notes (Ba1/BB+), according to a syndicate source.

The deal includes a tranche of eight-year notes, which become callable in three years at par plus ¾ coupon, and a tranche of 10-year notes, which come with five years of call protection.

Pricing is set for March 13.

J.P. Morgan Securities LLC, Barclays Capital Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC are the joint bookrunners.

Citigroup Global Markets Inc., Goldman Sachs & Co. and UBS Securities Inc. are the co-managers.

Proceeds from the Rule 144A and Regulation S for life notes will be used to redeem all of the outstanding preferred units held by the Lehman Brothers Holdings Inc. parties and the vested preferred units held by NBSH Acquisition LLC, as well as to pay an additional preferred return to the holders of the preferred units, and for general corporate purposes.

The prospective issuer is a New York-based asset management firm.

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