Madison Park Funding XVI to redeem class A-1, A-2a, A-2b, B notes

By Tali Rackner

Norfolk, Va., Dec. 9 – Madison Park Funding XVI, Ltd./Madison Park Funding XVI, LLC said a majority of its subordinated noteholders directed it to redeem its class A-1, A-2a, A-2b and B notes via a refinancing, according to a filing with the London Stock Exchange.

The notes will be redeemed at par plus accrued interest to the redemption date of Dec. 22.

As previously reported, Madison Park plans to issue $367,375,000 of class A-1-R senior secured floating-rate notes to replace the existing class A-1 notes, $75 million of class A-2-R senior secured floating-rate notes to replace the class A-2 notes and $49 million of class B-R senior secured deferrable floating-rate notes to replace the class B notes.

Wells Fargo Bank, NA is the trustee.

Questions may be directed to Wells Fargo (Attn: Lek Chobuathong at 713 243-4067 or komsan.chobuathong@wellsfargo.com.)

Credit Suisse Asset Management, LLC is the portfolio manager.

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