February 02, 2015

BNY Mellon Appointed by the Province of Ontario to Service Its First Green Bond


NEW YORK, Feb. 2, 2015 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been appointed fiscal agent, registrar, principal paying agent and transfer agent by the Province of Ontario for the issuance of its first green bond. The proceeds of Ontario's green bond program will be used to finance projects with specific environmental benefits throughout the province that align with its Green Bond Framework.

The initial green bond, a C$500 million issuance, will fund the Eglinton Crosstown Light Rail Transit (LRT) project in Toronto.

"We've seen increasing demand for investment vehicles like green bonds as more investors seek investment options that allow them to build a strategy around their social and environmental values," said Sonia Chaliha, head of sales and relationship management for Latin America and Canada for BNY Mellon Corporate Trust. "It's been estimated that green bonds may account for 10 to 15 percent of global bond issuance in the next five to seven years. We have numerous environmental, social and governance related offerings and provide our clients with a broad range of services that help mobilize investment capital to drive social progress. Building on our existing capabilities, we are well positioned to support issuers such as the Province of Ontario which use green bonds to finance environmentally friendly projects."

In 2014, BNY Mellon was named to the Dow Jones Sustainability World Index (DJSI World) and to the Dow Jones Sustainability North America Index (DJSI North America) for the second consecutive year. One of the most highly regarded global sustainability indices, the Dow Jones Sustainability Indices family, tracks the stock performance of leading sustainability-driven businesses globally and is offered jointly by the S&P Dow Jones Indices and RobecoSAM, a Swiss investment specialist that focuses exclusively on sustainability investing. BNY Mellon is one of two U.S. financial services firms selected for inclusion in DJSI World.

BNY Mellon Corporate Trust, through BNY Trust Company of Canada, provides 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.

As of December 31, 2014, BNY Mellon Corporate Trust served as trustee and/or paying agent on more than 61,000 debt-related issues globally. 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.

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 35 countries and more than 100 markets. As of Dec. 31, 2014, BNY Mellon had $28.5 trillion in assets under custody and/or administration, and $1.7 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 Twitter @BNYMellon.

Contact:

Mike Dunn

Malcolm Borthwick

+1 212 922 7859

+44 207 163 4109

mike.g.dunn@bnymellon.com  

malcolm.borthwick@bnymellon.com  

 

 

 

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SOURCE BNY Mellon