BNY Mellon new trustee of Silvermine 04 May 2012New York Reporter: Georgina Lavers
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BNY Mellon has been appointed trustee, collateral administrator, paying agent and calculation agent by Silvermine Capital for its $450 million collateralised loan obligation (CLO).
In its role, BNY Mellon Corporate Trust will provide a variety of services for Silvermine Capital, including processing principal and interest payments and maintaining bondholder records.
"We expect CLO activity to strengthen this year, and our appointment on this issuance highlights our extensive experience in servicing this recovering asset class," said Jocelyn Lynch, managing director at BNY Mellon Corporate Trust.
"We chose to work with BNY Mellon because they have demonstrated a deep understanding of our transactions," said Giorgio Boero, CFO at Silvermine Capital.
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