NEW YORK, May 27 /CNW/ -- The Bank of New York Mellon, through its
subsidiary BNY Trust Company of Canada, has been appointed collateral trustee,
intercreditor agent, indenture trustee and administrative agent for the bond
issue and syndicated loan facility which will be used to build Niagara Health
System's new Health-Care Complex and Walker Family Cancer Centre in St.
Catharines, Ontario. The $759 million health care complex will consolidate
acute and ambulatory services, cardiac catheterization, cancer treatment and
longer-term mental health services.
BNY Trust Company of Canada will assume a broad range of administrative
roles for the financing, including processing of principal and interest
payments, maintaining noteholder records, monitoring collateral and collecting
and disbursing insurance proceeds.
"We are pleased to support this important project, which will greatly
enhance the area's health care infrastructure," said Jerome Dwight, head of
BNY Trust Company of Canada.
The Bank of New York Mellon and BNY Trust Company of Canada provide
global trust and agency services to Canadian issuers interested in tapping the
global capital markets, as well as any issuer looking to issue in the Canadian
domestic capital markets. Overall, the Bank of New York Mellon's corporate
trust business services more than $12 trillion in outstanding debt from 57
locations around the world. It services all major debt categories, including
corporate, municipal and sovereign debt, mortgage-backed and asset-backed
securities, derivative securities and international debt offerings. The bank
does not compete with investment banks and deal arrangers, which allows it to
provide issuers, investors, borrowers and lenders with an independent and
objective service for their transactions.
Corporate trust providers are appointed by corporations, municipal
governments and financial institutions 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.
The Bank of New York Mellon Corporation is a global financial services
company focused on helping clients manage and service their financial assets,
operating in 34 countries and serving more than 100 markets. The company is a
leading provider of financial services for institutions, corporations and
high-net-worth individuals, providing superior asset management and wealth
management, asset servicing, issuer services, clearing services and treasury
services through a worldwide client-focused team. It has $19.5 trillion in
assets under custody and administration, $881 billion in assets under
management, and processes global payments averaging $1.8 trillion per day.
Additional information is available at www.bnymellon.com.
For further information:
For further information: Kevin Heine of The Bank of New York Mellon
Corporation, +1-212-635-1590, email@example.com Web Site: