Bahamas appoints BNY Mellon for agent roles 30 April 2014Bahamas Reporter: Tammy Facey
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BNY Mellon has taken on a number of agent roles for the Bahamas’ $300 million bond issuance.
The bank has been appointed registrar, fiscal agent, paying agent and transfer agent for the bond issuance.
John Rolle, financial secretary of the Bahamian government, commented on the mandate: "We chose to work with BNY Mellon because of their commitment to the Caribbean region and expertise in servicing sovereign debt issuances."
“We are well-positioned to support the Government of the Commonwealth of the Bahamas with this offering, which aims to stimulate economic activity in the region," added Sonia Chaliha, head of sales and relationship management for Latin America and Canada at BNY Mellon Corporate Trust.
As of 31 March 2014, BNY Mellon Corporate Trust was the trustee and/or paying agent for more than 65,000 debt-related issues.
Governments and its agencies, multinational corporations and financial institutions are a handful of the clients BNY Mellon represents.
To become a corporate trust provider, municipal governments and corporations appoint companies to perform 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.
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