Neuberger Berman splits new CLO tranche into principal and interest

By Hugh Minch

Tuesday, December 10, 2019

Neuberger Berman has split its latest CLO's double A notes into principal and interest-only bonds, according to market sources, in a structure that echoes the ‘mascot’ features that rose to prominence in the CLO market this year

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TAGS: CLO SocGen Neuberger Berman Pricing Primary market North America

View details on CLO-i: Neuberger Berman Loan Advisers CLO 35

Comment by: Anonymous. Posted 4 years ago [2019-12-10 17:35:22]

This is odd. If BP truly is a zero coupon bond, then the sum of the parts valuation would be less than par.

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