Symphony CLO 38 Ltd. is a $459.38 million broadly syndicated CLO managed by Symphony Alternative Asset Management LLC (Symphony), a subsidiary of Nuveen Asset Management LLC (Nuveen). This is a proposed refinancing of its March 2023 transaction. Based on provisions in the transaction documents and the portfolio characteristics: The replacement class X-R, A-1-R, A-2-R, B-R, C-R, D-1-R, D-2-R, and E-R notes and issuer loans are expected to be issued at a lower spread over three-month LIBOR than the original debt. Target par was increased by $3.50 million to $453.50 million. The reinvestment period will be extended 1.84 years. The stated maturity will be extended 2.25 years. The replacement class A debt, made up of one loan tranche and two note
