London - Mayer Brown has advised Värde Partners on a £158 million transaction with Starwood Capital to refinance the Magni CMBS.

The proceeds of the new Starwood Capital financing were applied by Magni Finance DAC to refinance five tranches of Notes listed on the Irish Stock Exchange and to unwind the CMBS entered into by it.

Mayer Brown acted for Värde Partners on all stages of the loan financing, the Noteholder consent process and the related CMBS unwind.

The team was led by London structured finance and securitisation partner David O’Connor in the Banking & Finance practice and included senior associates Noman Ali and Aaron Lockyer, and associate Bourn Collier; Tax Transaction & Consulting partner Sandy Bhogal and senior associate Ben Fryer; and Real Estate senior associate Iain Roberts.