BNY Mellon, a global leader in investment management and investment services, has been appointed trustee, registrar and paying agent for $35.5 million in revenue bonds issued by the Massachusetts Development Financing Agency to refund prior debt for the College of the Holy Cross and to finance capital improvements at the college, including the renovation and addition to the Hart Center athletic facility.
"Our long-term relationship with BNY Mellon and BNY Mellon's expertise in college and university financings were among the reasons for selecting BNY Mellon for this issuance," said Elizabeth Dionne, director of finance at Holy Cross.
"We have been working on bond financing for Holy Cross for more than 10 years, and we continue to expand our work as trustee for a growing number of universities," said Antonio Portuondo, head of BNY Mellon Corporate Trust's public and not-for-profit business.
Holy Cross, located in Worcester, Massachusetts, is among the nation's leading liberal arts institutions. A highly selective, four-year, exclusively undergraduate college of 2,800 students, Holy Cross is renowned for offering a rigorous, personalized education in the Jesuit, Catholic tradition. Since its founding in 1843, Holy Cross has made a positive impact in society by graduating students who distinguish themselves as thoughtful leaders in business, professional and civic life.
BNY Mellon is a leading provider of corporate trust services to the debt capital markets, offering customized and market-driven solutions to investors, bondholders and lenders. As of March 31, 2016, BNY Mellon Corporate Trust served as trustee and/or paying agent on more than 58,000 debt-related issues globally. The corporate trust business utilizes its global footprint and expertise to deliver a full range of issuer and related investor services including trustee, paying agency, fiduciary, escrow, and other financial services. The business administers a wide array of assets and types of programs to multinational corporations, financial institutions, governments and their agencies, and the banking, securities, and insurance industries.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of March 31, 2016, BNY Mellon had $29.1 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).