The Bank of New York Mellon Appointed to Provide Loan Agent, Administration, Cash...

The Bank of New York Mellon Appointed to Provide Loan Agent, Administration,
Cash Management and Hedging Execution Services for euro 16 Billion Sealink
Funding Transaction

NEW YORK, July 22 /PRNewswire-FirstCall/ -- The Bank of New York Mellon,
(NYSE: BK) the global leader in asset management and securities servicing, has
been mandated by the Free State of Saxony in consultation with Landesbank
Baden-Wurttemberg and a group of German banks, to provide loan servicing, cash
management, reconciliation, settlement, accounting and hedging execution
services for its euro 16 billion Sealink Funding transaction.
The Bank of New York Mellon will service this transaction by linking the
capabilities of its Asset Solutions and QSR Management units, which together
will provide the wide range of solutions required by Sealink Funding.
Scott Posner, chief executive officer of The Bank of New York Mellon's
Global Corporate Trust business, said: "This transaction highlights our unique
ability to service sizeable and complex restructurings and refinancings by
packaging a wide range of global capabilities. Our teams in London, Dublin
and New York were instrumental in ensuring a successful closing of this deal
and we look forward to working with all deal parties on the Sealink Funding
transaction to meet their ongoing needs."
In servicing this deal, Asset Solutions is providing the loan facility
agent role while QSR Management is providing the cash management,
reconciliation, settlement, accounting and hedging execution functions. Both
business lines are part of The Bank of New York Mellon's Global Corporate
Trust business.
QSR Management has been providing services to the structured credit
markets for the past 12 years and has developed a team to support
restructuring and refinancing transactions, whilst Asset Solutions provides
loan administration services to the institutional and corporate markets,
specializing in syndicated and commercial loans.
The Bank of New York Mellon's Global Corporate Trust business services $12
trillion in outstanding debt from 55 locations around the world. It services
all major debt categories, including corporate and municipal debt,
mortgage-backed and asset-backed securities, collateralized debt obligations,
derivative securities and international debt offerings.
The Bank of New York Mellon Corporation is a global financial services
company focused on helping clients manage and service their financial assets,
operating in 34 countries and serving more than 100 markets. The company 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 more than $23
trillion in assets under custody and administration and more than $1.1
trillion in assets under management. Additional information is available at
bnymellon.com.
SOURCE The Bank of New York Mellon Corporation

Kevin Heine of The Bank of New York Mellon Corporation, +1-212-635-1590,
kevin.heine@bnymellon.com