Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers N > Headlines for Neuberger Berman Group LLC > News item |
Neuberger Berman Fixed Income in deal pipeline with $361.5 million Neuberger Berman XXI CLO
By Cristal Cody
Tupelo, Miss., Feb. 18 – Neuberger Berman Fixed Income LLC is marketing $361.5 million of notes due April 20, 2027 in a new collateralized loan obligation deal, according to a market source.
The Neuberger Berman CLO XXI, Ltd./Neuberger Berman CLO XXI, LLC offering includes $3 million of class X floating-rate notes (AAA); $223.2 million of class A floating-rate notes (AAA); $45 million of class B floating-rate notes; $23.4 million of class C deferrable floating-rate notes; $19.8 million of class D deferrable floating-rate notes; $16.2 million of class E deferrable floating-rate notes and $30.9 million of subordinated notes.
Morgan Stanley & Co. LLC is the placement agent.
Neuberger Berman Fixed Income will manage the CLO.
The CLO has a non-call period that ends on April 20, 2018. The reinvestment period is set to end on April 20, 2020.
The transaction is backed primarily by broadly syndicated senior secured loans.
The deal is expected to close on March 29.
Neuberger Berman Fixed Income was in the CLO primary market with two transactions in 2015.
The Chicago-based firm, part of Neuberger Berman Group, LLC, brought three CLO deals in 2014.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.