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Review: The Reset of Neuberger Berman CLO XVII

The recent pricing of the second reset of NB CLO 17 was accretive. This reset added 5 years to its reinvestment period and reduced its current WACC from 188 bps to 183 bps. The deal now has a staggering 15 years of reinvestment period based on its primary issue closing date on July 16, 2014. The manager had been successful in keeping the deal invested after the reinvestment end date in April 2022.

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