July 10, 2012

BNY Mellon Appointed to Trustee and Agent Roles for $650 Million Bond Issuance by Dundee REIT and H&R REIT

NEW YORK, July 10, 2012 — BNY Mellon, the global leader in investment management and investment services, has been appointed indenture trustee, paying agent and registrar for a $650 million issuance of mortgage bonds by special purpose subsidiaries of Dundee REIT and H&R REIT.  The proceeds were used to partially finance the acquisition of the Scotia Plaza complex in downtown Toronto.

In its role, BNY Mellon Corporate Trust will provide a variety of services for Dundee REIT and H&R REIT, including processing principal and interest payments and maintaining bondholder records.

"We are pleased to have BNY Mellon as a partner.  This was a complex transaction and we appreciated the expertise and service that BNY Mellon has provided to us," said Mario Barrafato, senior vice president and chief financial officer at Dundee REIT.

"Through our experience in administering a wide range of bond financings, we are well equipped to support Dundee REIT and H&R REIT as they finance their acquisition of Scotia Plaza," said Sonia Chaliha, managing director and head of Latin America and Canada at BNY Mellon Corporate Trust.  "Being appointed to service such a high-profile deal illustrates the trust our clients have in our capabilities and expertise."

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. 

BNY Mellon Corporate Trust services $11.9 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 financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets.  BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team.  It has $26.6 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day.  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.