Neuberger Berman Loan Advisers Euro CLO 5 (Refinan: 09 December 2023
The assets securing the Notes (as defined herein) will consist primarily of a portfolio of Senior Obligations, Mezzanine Obligations and High Yield Bonds managed by Neuberger Berman Europe Limited.
On 6 December 2022 (the Original Issue Date) the Issuer issued Class A Senior Secured Floating Rate Notes due 2036, Class B Senior Secured Floating Rate Notes due 2036, Class C Senior Secured Deferrable Floating Rate Notes due 2036, Class D Senior Secured Deferrable Floating Rate Notes due 2036, Class E Senior Secured Deferrable Floating Rate Notes due 2036, Class F Senior Secured Deferrable Floating Rate Notes due 2036, Senior Preferred Return Notes due 2036, Subordinated Preferred Return Notes due 2036, Performance Notes due 2036 and Subordinated Notes due 2036.
On or about 6 December 2023 (the re-Issue and the Refinancing Date) the Issuer will, subject to satisfaction of certain conditions, redeem the Original Rated Notes by issuing Class AR Senior Secured Floating Rate Notes due 2037, Class B-1R Senior Secured Floating Rate Notes due 2037, Class B-2R Senior Secured Fixed Rate Notes due 2037, Class CR Senior Secured Deferrable Floating Rate Notes due 2037, Class DR Senior Secured Deferrable Floating Rate Notes due 2037, Class ER Senior Secured Deferrable Floating Rate Notes due 2037 and Class FR Senior Secured Deferrable Floating Rate Notes due 2037.
The Refinancing Notes (other than certain Class F Notes to be purchased by the Retention Holder directly from the Issuer on the Issue Date) are being offered by the Issuer through Barclays Bank PLC in its capacity as initial purchaser of such Offered Notes subject to prior sale.
EU & UK Risk Retention: A material net economic interest of not less than 5% in the securitisation will be retained, on an ongoing basis, in accordance with the applicable EU/UK Retention Requirements.
US Risk Retention: The Retention Holder does not intend to retain a risk retention interest as contemplated by the US Risk Retention Rules in connection with the transaction described in this Offering Circular, or the Notes, in reliance instead on the “Safe harbor for certain foreign-related transactions” contained in the US Risk Retention Rules.