Chicago, May 2 – Neuberger Berman Investment Advisers LLC reset for $432 million the collateralized loan obligation issued by Neuberger Berman CLO XXII, Ltd., according to presale reports.
The transaction will mature on May 15, 2037.
The CLO now consists of $244.8 million of class A-1-R2 senior secured floating-rate notes at SOFR plus 152 basis points, $15.2 million of class A-2-R2 senior secured floating-rate notes at SOFR plus 170 basis points, $44 million of class B-2-R2 senior secured floating-rate notes at SOFR plus 200 basis points, $24 million of class C-R2 mezzanine secured deferrable floating-rate notes at SOFR plus 250 basis points, $22 million of class D-1-R2 mezzanine secured deferrable floating-rate notes at SOFR plus 375 basis points, $3 million of class D-2-R2 mezzanine secured deferrable floating-rate notes at SOFR plus 475 basis points, $15 million of class E-R2 junior secured deferrable floating-rate notes at SOFR plus 700 basis points and $64 million of subordinated notes.
Neuberger Berman Investment Advisers LLC will manage the collateral through the end of the reinvestment period on May 15, 2029.
Collateral consists of first-lien senior secured leveraged loans.
The CLO can be called starting May 15, 2026.
BofA Securities, Inc. was the placement agent.
The Chicago-based firm is part of Neuberger Berman Group, LLC.
| Issuer: | Neuberger Berman CLO XXII, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $432 million
|
| Maturity: | May 15, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | Neuberger Berman Investment Advisers LLC
|
| Call feature: | May 15, 2026
|
| Pricing date: | April 18
|
| Settlement date: | May 15
|
|
|
| Class A-1-R2 notes
|
| Amount: | $244.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 152 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2-R2 notes
|
| Amount: | $15.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 170 bps
|
| Rating: | Fitch: Aaa, AAA
|
|
|
| Class B-2-R2 notes
|
| Amount: | $44 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C-R2 notes
|
| Amount: | $24 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | Fitch: A
|
|
|
| Class D-1-R2 notes
|
| Amount: | $22 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 375 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class D-2-R2 notes
|
| Amount: | $3 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 475 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E-R2 notes
|
| Amount: | $15 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 700 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $64 million
|
| Securities: | Subordinated notes
|
|
|
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