Jefferies prices €345M refinancing of Madison Park Euro Funding VIII for CSAM

Jefferies has priced the €345 million refinancing of Madison Park Euro Funding VIII for Credit Suisse Asset Management.

Details are as follows:

The deal, expected to settle Feb. 3, extends the non-call period on the refinanced notes to Feb. 3, 2023, while the reinvestment period of the vehicle is unchanged, ending April 15, 2024. The legal final maturity is April 15, 2032.

The manager as originator is expected to retain a vertical slice to comply with EU risk-retention requirements.

The original €479.2 million vehicle, then called Cadogan Square VIII, priced in November 2016 and was reset in a €481.9 million transaction in November 2019. Prior to this refinancing, the class A, C and D notes paid coupons of 95 basis points, 250 bps and 465 bps, respectively.