Silvermine Capital has appointed BNY Mellon Corporate Trust as trustee, collateral administrator, paying agent and calculation agent for its $450 million CLO.
In its role, BNY Mellon will offer different services for Silvermine Capital such as processing principal and interest payments and maintaining bondholder records.
"We expect CLO activity to strengthen this year, and our appointment on this issuance highlights our extensive experience in servicing this recovering asset class," said Jocelyn Lynch, managing director at BNY Mellon.
"We chose to work with BNY Mellon on this deal because of the quality of service we receive from them and the fact that they have demonstrated a deep understanding of our transactions," said Giorgio Boero, CFO at Silvermine Capital.
The trustee currently services $11.9 trillion in outstanding debt from 61 locations in 20 countries.
