July 03, 2012

BNY Mellon Appointed to Trustee and Agent Roles for United Technologies' $9.8 Billion Bond Issuance

Company to service largest U.S. corporate bond issuance since 2009

NEW YORK, July 3, 2012 — BNY Mellon, the global leader in investment management and investment services, has been appointed trustee, registrar, paying agent and calculation agent by United Technologies Corp. for its $9.8 billion bond issuance.  United Technologies, a diversified company providing high technology products and services to the building and aerospace industries, will use the proceeds primarily to pay a portion of the cash consideration for the previously announced acquisition of Goodrich Corporation. 

In its role, BNY Mellon Corporate Trust will provide a variety of services for United Technologies, including processing principal and interest payments and maintaining bondholder records.

"This issuance represents the largest U.S. corporate bond issuance since 2009 and the largest investment-grade deal this year.  This mandate to service such a high-profile issuance highlights our commitment to helping our clients participate in a wide range of complex financings and illustrates United Technologies' trust in our expertise," said Alex Tsarnas, head of U.S. corporate and insurance market segments at BNY Mellon Corporate Trust. 

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