BNY Mellon Tapped for Marathon CLO Processing
BNY Mellon has been appointed trustee, collateral administrator, paying agent and calculation agent by Marathon Asset Management for its $356 million collateralized loan obligation.
In its role, BNY Mellon's corporate trust unit will process principal and interest payments and maintain bondholder records. "We remain committed to servicing the CLO marketplace which has shown great signs of life following the financial crisis," says Jocelyn Lynch, managing director at BNY Mellon Corporate Trust. "We are well equipped to support Marathon as they execute and manage this offering."
BNY Mellon Corporate Trust services $11 trillion in outstanding debt from 61 locations in 20 countries. Corporate trust providers are appointed by corporations, municipal government and other entities listing debt to service and maintain the debt issue, process principal and interest payments for investors, represent investors in defaults and provide additional value-added services for complex debt structures.
Written by Chris Kentouris, Editor-in-chief (Chris can be contracted through Chris.Kentouris@hotmail.com)