Chicago, March 21 – Neuberger Berman Loan Advisers II LLC reset for $509.7 million the collateralized loan obligation issued by Neuberger Berman Loan Advisers CLO 39, Ltd./Neuberger Berman Loan Advisers CLO 39, LLC, according to an offering document.
The notes will mature on April 20, 2038.
The refinanced CLO consists of $315 million of class A-1-R senior secured floating-rate notes at SOFR plus 153 basis points, $5 million of class A-2-R senior secured floating-rate notes at SOFR plus 173 bps, $60 million of class B-R senior secured floating-rate notes at SOFR plus 200 bps, $30 million of class C-R senior secured deferrable floating-rate notes at SOFR plus 250 bps, $30 million of class D-R senior secured deferrable floating-rate notes at SOFR plus 390 bps, $20 million of class E-R senior secured deferrable floating-rate notes at SOFR plus 720 bps and $49.7 million of subordinated notes.
The original CLO $300 million of class A-1 floating-rate notes at Libor plus 135 bps and $20 million of class A-2 floating-rate notes at Libor plus 145 bps.
The CLO also originally had $60 million of class B floating-rate notes at Libor plus 160 bps, $30 million of class C deferrable floating-rate notes at Libor plus 225 bps, $30 million of class D deferrable floating-rate notes at Libor plus 360 bps, $16.25 million of class E deferrable floating-rate notes at Libor plus 720 bps and $49.7 million of subordinated notes.
Neuberger Berman Loan Advisers II LLC will manage the collateral through the end of the reinvestment period on April 20, 2029.
Collateral for the notes consists of first-lien senior secured leveraged loans.
The notes can be called starting April 20, 2026.
Citigroup was the placement agent.
The Chicago-based investment management firm is an affiliate of Neuberger Berman Group LLC.
| Issuer: | Neuberger Berman Loan Advisers CLO 39, Ltd./Neuberger Berman Loan Advisers CLO 39, LLC
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| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $509.7 million
|
| Maturity: | April 20, 2038
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| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup
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| Manager: | Neuberger Berman Loan Advisers II LLC
|
| Call feature: | April 20, 2026
|
| Settlement date: | March 12
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|
| Class A-1-R notes
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| Amount: | $315 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 153 bps
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| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2-R notes
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| Amount: | $5 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | SOFR plus 173 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-R notes
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| Amount: | $60 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | SOFR plus 200 bps
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| Rating: | Fitch: AA
|
|
|
| Class C-R notes
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| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 250 bps
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| Rating: | Fitch: A
|
|
|
| Class D-R notes
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| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 390 bps
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| Rating: | Fitch: BBB-
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|
|
| Class E-R notes
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| Amount: | $20 million
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| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 720 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
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| Amount: | $49.7 million
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| Securities: | Subordinated notes
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