NEW YORK, Dec. 13, 2010 /PRNewswire-FirstCall/ -- BNY Mellon Corporate Trust has been appointed trustee, registrar, paying agent and collateral agent for Postmedia Network Inc.'s $275 million bond issue, the proceeds of which were used to help complete Postmedia's acquisition of publishing and associated digital and on-line assets of Canwest Publishing Inc. and Canwest Limited Partnership, both part of the Canwest Global Communications Corp. conglomerate (collectively "Canwest").
BNY Mellon will assume a broad range of administrative roles for the bond issue including processing of principal and interest payments, maintaining noteholder records and administering collateral.
"We have extensive experience servicing complex exchanges and are well positioned to support the needs of Postmedia following its acquisition of the Canwest publishing assets as part of the overall restructuring of the Canwest business," said Sonia Chaliha, managing director and head of the Global Americas region for BNY Mellon Corporate Trust. "This deal highlights our ability to meet the diverse needs of issuers, investors and exchanges in multiple jurisdictions through our unmatched global staff and capabilities."
BNY Mellon Corporate Trust, through BNY Trust Company of Canada, provides global trust and agency services to Canadian issuers interested in tapping the global capital markets, as well as any issuer looking to issue in the Canadian domestic capital markets.
BNY Mellon Corporate Trust services $12 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 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.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $24.4 trillion in assets under custody and administration and $1.14 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com.
SOURCE BNY Mellon