BNY Mellon Appointed to Trustee and Agent Roles for Marathon Asset Management's $356 Million Collateralized Loan Obligation
Published on Tuesday, 31 July 2012 09:51 Written by TradersHuddle Staff
NEW YORK, July 31, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed trustee, collateral administrator, paying agent and calculation agent by Marathon Asset Management for its $356 million collateralized loan obligation (CLO).
In its role, BNY Mellon Corporate Trust will provide a variety of services for Marathon Asset Management, including processing principal and interest payments and maintaining bondholder records.
"We remain committed to servicing the CLO marketplace, which has shown strong signs of life following the financial crisis," said Jocelyn Lynch, managing director at BNY Mellon Corporate Trust. "We are well equipped to support Marathon as they execute and manage this offering."
"Marathon is pleased to issue its latest CLO and partner with the best service providers in the market. BNY Mellon is one of the best and provides us with excellent quality service," said Andrew Rabinowitz, COO and Partner at Marathon Asset Management.
BNY Mellon Corporate Trust services $11.5 trillion in outstanding debt from 61 locations in 20 countries. Its clients include governments and their agencies, multinational corporations, financial institutions and other entities that access the global debt capital markets. The corporate trust business utilizes its global footprint and expertise to deliver a full range of issuer and related investor services and to develop customized and market-driven solutions. Its range of core services includes debt trustee, paying agency, escrow and other fiduciary offerings.
Corporate trust providers are appointed by corporations, municipal governments and other entities issuing debt to perform a variety of duties, including servicing and maintaining the debt issue, processing principal and interest payments for investors, representing investors in defaults, and providing value-added services for complex debt structures.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $27.1 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.5 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter @BNYMellon.
SOURCE BNY Mellon
- Aging U.S. Infrastructure and Growing Population Fuel Need for New Construction Financed through Municipal Bonds, Says BNY Mellon's Standish
- Growing Number of Debt Issues Funding Dividends and Buybacks Causes Concern, According to Standish
- BNY Mellon Plans to Increase its Wealth Management Sales Force by 50%
- BNY Mellon Appointed as Depositary Bank by UBIC, Inc.
- BNY Mellon CSD signs T2S Framework Agreement
- Pershing and BNY Mellon Combine Bank and Brokerage Custody into a Single Service Offering
- BNY Mellon Supports Greater Boston PFLAG's Step UP! Pride and Passion 2013
- BNY Mellon Announces Redemption of Capital Securities
- Eagle Helps Clients Address Regulation, Risk Management with LEI and Cleared Swaps Support
- Prolonged Multi-Year Global Economic Expansion Expected Says BNY Mellon's Chief Economist Richard Hoey
Related Partner Headlines
- Bank Of New York Mellon Corp Stock Buy Recommendation Reiterated (BK) - TheStreet.com
- 5 Stocks Pushing The Financial Sector Higher - TheStreet.com
- Bank Of New York Mellon Stock Hits New 52-Week High (BK) - TheStreet.com
- Trust Banks: Financial Winners - TheStreet.com
- 4 Stocks Pushing The Financial Services Industry Higher - TheStreet.com
- Bank Of New York Mellon Corp (BK): Today's Featured Financial Services Laggard - TheStreet.com
- Gabriela Parcella Named Chairman of Mellon Capital - Benzinga
- Bank Of New York Mellon Corp Stock Upgraded (BK) - TheStreet.com
- Bank Of New York Mellon Stock To Go Ex-dividend Tomorrow (BK) - TheStreet.com
- Bank Of New York Mellon Corp Stock Hold Recommendation Reiterated (BK) - TheStreet.com
Latest Partner Headlines
Dow Today: Verizon Communications (VZ) Higher - TheStreet.com
Separating the Bargains From the Busts - TheStreet.com
Cramer Quick Take: The 60-Inch TV Will Be Key This Holiday - TheStreet.com
Cramer Quick Take: Cisco Wins If Fiscal Cliff Is Resolved - TheStreet.com
Gap Up and Sit - TheStreet.com
Apple, Intel, MicroStrategy: Tech Winners & Losers - TheStreet.com
Windows 8 PC Sales Disappointing: Report - TheStreet.com
Cramer Quick Take: Buy Home Depot and Lowe's - TheStreet.com
Dow JonesCompany ID [INDEXDJX:.DJI] Last trade:15,294.50 Trade time:4:53PM EDT Value change:▼12.67 (-0.08%)
S&P 500Company ID [INDEXSP:.INX] Last trade:1,650.51 Trade time:4:52PM EDT Value change:▼4.84 (-0.29%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:3,459.42 Trade time:5:15PM EDT Value change:▼3.88 (-0.11%)
In The Wires
InterOil And Pacific LNG Group Enter Into Exclusive Negotiations With ExxonMobil On Development Of The Elk And Antelope Resource
Gold Fields Limited: Talas Copper Gold Project
Hemp, Inc. Inks Investment Deal with 'Hemp America the Revolution' & 'Hemp Canada Seeds of Growth' Doc/Films
Novelis Expands Production Capacity in Europe for Automotive Sheet
Aegon Appoints Global Chief Technology Officer
3SBio Inc. Announces Shareholders' Approval of the Amended Merger Agreement
China Zenix Auto International Announces Financial Results for the First Quarter of 2013
Book Of Mormon Battles Itself For Highest Theater Ticket Sales, Learn The Unexpected Winner