Chicago, Feb. 15 – Neuberger Berman Loan Advisers II LLC sold $612 million of notes in a collateralized loan obligation issued by Neuberger Berman Loan Advisers CLO 48, Ltd., according to a press release.
The notes will mature on April 20, 2036.
The CLO consists of $372 million of class A1 notes, $12 million of class AJ notes, $72 million of class B notes, $36 million of class C notes, $36 million of notes, $24 million of class E notes and $60 million of subordinated notes.
Neuberger Berman Loan Advisers II LLC will manage the collateral through the end of the 5.1-year reinvestment period.
The collateral consists of first-lien senior secured leveraged loans.
The Chicago-based investment management firm is an affiliate of Neuberger Berman Group LLC.
| Issuer: | Neuberger Berman Loan Advisers CLO 48, Ltd.
|
| Issue: | Notes
|
| Amount: | $612 million
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| Maturity: | April 20, 2036
|
| Structure: | Cash flow CLO
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| Arranger: | BofA Securities, Inc.
|
| Manager: | Neuberger Berman Loan Advisers II LLC
|
| Announcement date: | Feb. 14
|
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| Class A1 notes
|
| Amount: | $372 million
|
| Securities: | Notes
|
| Rating: | Fitch: AAA
|
|
|
| Class AJ notes
|
| Amount: | $12 million
|
| Securities: | Notes
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
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| Amount: | $72 million
|
| Securities: | Notes
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
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| Amount: | $36 million
|
| Securities: | Notes
|
| Rating: | Fitch: A
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|
|
| Class D notes
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| Amount: | $36 million
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| Securities: | Notes
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| Rating: | Fitch: BBB-
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|
|
| Class E notes
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| Amount: | $24 million
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| Securities: | Notes
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| Rating: | Fitch: NR
|
|
|
| Subordinated notes
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| Amount: | $60 million
|
| Securities: | Subordinated notes
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