Standard & Poor’s issued presale reports on two collateralized loan obligations this week, putting issuance for the year to date near $50 billion, by the ratings agency’s count, and near the 2005 total of $53 billion.

UBS is prepping the $415 million Neuberger Berman CLO XIII. The deal has a $253.4 million tranche with a preliminary ‘AAA’ rating from S&P being offered at 145 basis points over three-month Libor, which the ratings agency described in a daily update on structured credit Wednesday as “within the range of recent deals.” The tranche has 38.94% subordination.

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