Banco General opts for BNY Mellon 01 May 2013New York Reporter: Jenna Jones
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Banco General has appointed BNY Mellon as trustee, registrar, transfer agent, paying agent and securities intermediary for its $100 million diversified payment rights (DPR) bond issuance, which is the first DPR programme in Panama.
Francisco Sierra, CFO at Banco General, said: “We chose to work with BNY Mellon because of their extensive track record and experience in DPR securitizations and the strong relationship we maintain with them.”
Hector Herrera, managing director of international and cross border sales at BNY Mellon, said: “We expect to see an increased interest in DPRs as more issuers seek alternative sources of funding in anticipation of the new regulatory environment of Basel III.”
“We are committed to servicing the growing needs of issuers across Central America, and our appointment on this programme illustrates the market’s trust in our global capabilities and expertise.”
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