NEW YORK, March 26, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed trustee, master trustee, paying agent and registrar by the Young Men's Christian Association (YMCA) of Greater Houston for its $151 million bond issuance.
In its role, BNY Mellon Corporate Trust will provide a variety of services for the Greater Houston YMCA, including processing principal and interest payments and maintaining bondholder records.
"BNY Mellon has been one of our trusted partners for more than twenty years. They've helped our organization navigate changing market conditions and access important sources of funding," said Clark D. Baker, President/CEO of YMCA of Greater Houston."We are well positioned to support the YMCA of Greater Houston as it completes a major restructuring to stabilize its funding," said Antonio Portuondo, head of public/not-for-profit client and business development at BNY Mellon Corporate Trust. "At BNY Mellon, we are invested in improving the communities where our employees and clients live and work, and we look forward to helping our not-for-profit clients succeed so they can do the same." As of December 31, 2012, BNY Mellon Corporate Trust serviced $11.4 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.