LONDON, May 17, 2011 — BNY Mellon Corporate Trust has been appointed trustee, paying agent, calculation agent, registrar and transfer agent for the first ever publicly distributed standalone UK Residential Mortgage Backed Security ("RMBS") with a Kangaroo tranche sponsored by Lloyds Bank Corporate Markets. A Kangaroo tranche is a bond that is issued in Australian dollars by foreign entities wanting to expand their investor base.
The deal comprises three tranches consisting of 638million pounds Sterling of Sterling notes, euro 500million of euro notes and A$275million in Australian dollar notes.
In its role, BNY Mellon Corporate Trust will provide a variety of services for the debt issue, including processing principal and interest payments and maintaining bondholder records. Lloyds Bank Corporate Markets structured the transaction. Lloyds Bank Corporate Markets was lead manager for the Sterling notes, Lloyds Bank Corporate Markets and Natixis for the Euro notes and Lloyds Bank Corporate Markets, Australia branch, National Australia Bank and Macquarie Bank for the AUD notes.
"The Australian bond market has seen increased interest over the past 12 months from overseas issuers looking to capitalise on strong investor appetite, favourable cross currency swap rates and the diversification benefits of issuing in AUD," said James Maitland, head of the International region for BNY Mellon Corporate Trust. "Lloyds Banking Group chose BNY Mellon due to our cross-continental capabilities, extensive experience and expertise in the debt capital markets globally, and ability to offer clients comprehensive solutions that meet our clients specific requirements" added Maitland.
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 $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com.
This press release is issued by The Bank of New York Mellon to members of the financial press and media. All information and figures source The Bank of New York Mellon as at 19 April 2011 unless otherwise stated.
The Bank of New York Mellon, London Branch, registered in England and Wales with FC005522 and BR000818
Branch office: One Canada Square, London E14 5AL Authorised and regulated in the UK by the Financial Services Authority.