Neuberger Berman Global Corporate Income Trust – Offer Open

Global investment manager Neuberger Berman today announced the opening
of the Initial Public Offering (the “Offer”) for the NB Global Corporate
Income Trust (the “Trust”).

The Offer has already attracted strong support, surpassing its minimum
raise of $150 million. Demand continues to build.

The Trust will invest in the high yield bonds of large and liquid
companies around the world, with the aim of delivering stable monthly
income. Its well-diversified portfolio consists of around 300 large,
global companies, with a strong emphasis on capital preservation. The
Trust will be targeting a net distribution of 5.25% per annum (“Target
Distribution”), paid monthly.

Nick Hoar, Head of Asia Pacific at Neuberger Berman said the NB Global
Corporate Income Trust is designed to provide investors with stable and
consistent monthly income.

“The fact that we have already surpassed the minimum subscription by the
opening of the Offer supports our belief that the Trust fulfills an
unmet demand from local investors looking for income and diversification
beyond Australian equities and fixed income,” Mr. Hoar said.

“This is an opportunity for Australian investors to obtain exposure to
global high yield corporate bonds, an asset class traditionally
under-represented in retail, SMSF and other investors’ portfolios, and
to gain access to Neuberger Berman’s long track record, scale and
experience in the global high yield sector.”

“We believe the Trust’s income and diversification characteristics make
it an appealing investment solution for inclusion in the portfolios of
many Australian investors.”

Neuberger Berman has also committed to paying for all the upfront fees
and costs of the Offer.

It is proposed that the Trust will be listed on the Australian
Securities Exchange (ASX) under the code “NBI”.

Details of the Offer

The Issuer and Responsible Entity of the Trust is Equity Trustees
Limited (“Responsible Entity”). Neuberger Berman Australia Pty Ltd will
manage the Trust’s assets. The Responsible Entity, on behalf of the
Trust, is offering up to 250 million new units in the Trust at $2.00 per
share, to raise $500 million, with the discretion to accept over
subscriptions. The minimum subscription is $150 million.

To participate in the Offer

The Offer is being made under the Trust’s product disclosure statement
that was lodged with ASIC on 6 August 2018 (PDS) and is available
on the Trust’s website at
Investors should review the PDS for full details of the terms of the
Offer, including, in particular, the “Overview of the Trust”, “Overview
of the Investment Strategy”, “Risk Factors” and “Fees and
Other Costs” sections of the PDS.

Applications under the General Offer can be made by completing the
application form attached to the PDS or online through the application
form accompanying the electronic PDS. Applicants under the broker firm
Offer should contact their broker for application details.

The Lead Arrangers and Joint Lead Managers for the Offer are NAB, Evans
Dixon, Morgans and Ord Minnett.

Key Dates:

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages a range of
strategies—including equity, fixed income, quantitative and multi-asset
class, private equity and hedge funds—on behalf of institutions,
advisors and individual investors globally. With offices in 20
countries, Neuberger Berman’s team is more than 2,000 professionals. For
four consecutive years, the company has been named first or second in
Pensions & Investments Best Places to Work in Money Management survey
(among those with 1,000 employees or more). Tenured, stable and
long-term in focus, the firm fosters an investment culture of
fundamental research and independent thinking. It manages $304 billion
in client assets as of June 30, 2018. For more information, please visit
our website at

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