BNY Mellon offers Baylor College a helping hand 20 November 2012New York Reporter: Jenna Jones
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Baylor College of Medicine has appointed BNY Mellon to a variety of trustee and agent roles to aid the restructuring of its $462 million debt, which comprises four bond issues.
BNY Mellon has been named master trustee, bond trustee, paying agent and registrar, index rate calculation agent and tender agent.
Kimberly David, senior vice president and CFO at Baylor College of Medicine, said: “We chose to work with BNY Mellon on this restructuring because of its ability to help the college position itself for stability and growth through a complex series of transactions.”
Antonio Portuondo, head of public/not-for-profit client and business development for BNY Mellon Corporate Trust, said: “Many healthcare and higher education institutions are finding that they need to restructure their debt because of changing capital market conditions.”
“We are committed to supporting our clients through both expansions and repositionings, and being appointed to service such a high profile restructuring illustrates Baylor’s trust in our capabilities and expertise.”
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