BNY Mellon Appointed Trustee and Back-Up Servicer for Hannon Armstrong's $118.6 Million Sustainable Yield Bond
OREANDA-NEWS. October 09, 2015. BNY Mellon, a global leader in investment management and investment services, has been appointed trustee, registrar, paying agent and back-up servicer for \\$118.6 million in asset-backed securities issued by Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI), a leading provider of debt and equity financing to the energy efficiency and renewable energy markets.
The securities issued by Hannon Armstrong are backed by a portion of its solar and wind real estate-related assets. They are supported by ground lease payments, which are higher in priority than the senior debt.
"BNY Mellon's Corporate Trust business continues to broaden its role in environmental finance," said Tim Vara, managing director for U.S. financial institutions in the Corporate Trust group. "We see growing interest from investors in securities that are supported by renewable energy sources."
BNY Mellon provides a wide array of services to Hannon Armstrong on a range of securities including paying agent, collateral agent, security intermediary, depository and custodian.
"We chose to work with BNY Mellon on this financing because of its capabilities and its 15-year history of supporting Hannon Armstrong and providing us with superior service," said Lisa Hale, Vice President of Asset Management for Hannon Armstrong.
BNY Mellon offers a wide range of social finance products and services that help mainstream investors meet their return/risk goals, while considering the environmental, social and governance (ESG) impact of their investments. BNY Mellon's Corporate Trust group supports clients' ESG needs through environmental finance products including custody of carbon credits, environmental trusts and escrows, green bonds and project finance. Learn more about social finance at BNY Mellon at www.bnymellon.com/socialfinance.
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 June 30, 2015, BNY Mellon Corporate Trust served as trustee and/or paying agent on more than 60,000 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.