Historically Black College and University (HBCU) Capital Financing ProgramBackgroundEnacted in 1994 to recognize the prominent role of HBCUs in American history, the U.S. Department of Education's HBCU Capital Financing Program addresses HBCUs' widespread need for capital improvements and general lack of access to traditional funding sources. Under the program, the Department of Education provides financial insurance to guarantee loans and accrued interest to qualifying HBCUs for specified kinds of capital projects. To date, all bonds issued have been purchased by the Federal Financing Bank of the U.S. Treasury. Rice Capital Access Program is the program's Designated Bonding Authority (DBA). BNY Mellon provides trustee and paying agent services for the program. Corporate Trust LeadershipBNY Mellon is the world's leading provider of corporate trust services, administering $11.8 trillion in outstanding debt from 61 locations in 20 countries around the globe. A recognized leader in the public debt markets*, we have a long tradition of collaborating with clients across the full range of debt instruments to provide customized solutions to meet client-specific needs. Custody ProgramTo augment our broad range of corporate trust services, we offer a client-focused custody solution to meet your collateral requirement needs. As an independent third-party, we provide accurate, clear and concise information to help you know and understand the value of the assets we hold on your behalf. Strength and StabilityFor more than 225 years we have been a strong, stable company with excellent long-term credit ratings. We are highly liquid and have demonstrated our ability to rise above market fluctuations to provide clients with the tools and capabilities they need. We are committed to providing the highest level of service for the life of your transaction. Commitment to DiversityAt BNY Mellon, an uncompromising commitment to diversity supports our business goals. Achieving these goals is directly related to our ability to create an environment where all employees feel comfortable contributing their unique skills and talents to serve our clients and deliver measurable results. Our commitment to diversity with a focus on inclusion is evidenced in our policies, programs and throughout our business. Who's Helping You?For more information about our HBCU Capital Financing Program services, please contact: Robert T. Demos
Rodney J. Harrington
* In 2010, for the fifth consecutive year, BNY Mellon was the number one overall trustee for municipal debt, according to Thomson Reuters, a leading source of intelligent information for businesses and professionals. |
