BNY Mellon Ranked Top Trustee for CLO Market in 2012
NEW YORK, March 5, 2013
NEW YORK, March 5, 2013 /PRNewswire/ --BNY Mellon, the global leader in
investment management and investment services, was the top trustee for
collateralized loan obligations (CLOs) in 2012, according to data from Asset
During 2012, the company served as trustee on 42 issues, representing more
than $18 billion in proceeds and triple the amount mandated to BNY Mellon in
"The CLO market saw increased demand from investors in 2012 with a total of
more than $56 billion in new issues, a sign that the market is continuing to
rebound after the financial crisis," said Jocelyn Lynch, managing director at
BNY Mellon Corporate Trust. "We expect to see continued growth for this asset
class and predict that it will experience a considerable increase in 2013 with
between $70 and $90 billion of CLOs hitting the market."
As of December 31, 2012, BNY Mellon Corporate Trust serviced $11.4 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 investments company dedicated to helping its clients
manage and service their financial assets throughout the investment lifecycle.
Whether providing financial services for institutions, corporations or
individual investors, BNY Mellon delivers informed investment management and
investment services in 36 countries and more than 100 markets. As of December
31, 2012, BNY Mellon had $26.2 trillion in assets under custody and/or
administration, and $1.4 trillion in assets under management. BNY Mellon can
act as a single point of contact for clients looking to create, trade, hold,
manage, service, distribute or restructure investments. 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
SOURCE BNY Mellon
Contact: Amy Shipper, +1-212-635-7755, firstname.lastname@example.org
Press spacebar to pause and continue. Press esc to stop.