The Bank of New York announced today that it has added Irish listing and paying agency services to its range of global trust services. The Bank’s London branch will act as listing agent, with the paying agent role provided by AIB/BNY Fund Management (Ireland) Ltd, a joint venture established by The Bank of New York and Allied Irish Bank.
“We are pleased to expand our broad range of international trust and agency services by launching Irish listing and paying agency services, which offer additional support to our clients. With growing demand in the capital markets for listing alternatives, the Irish Stock Exchange is becoming an exchange of choice for many structured finance issuers,” says Steven Hodgetts, managing director and division head of global trust services for The Bank of New York. “We are particularly delighted with our first Irish listing and paying agency appointment in connection with a public Korean securitisation of credit card receivables recently issued by Woori Card Finance 2002 Ltd.”
Helen Berrill, head of the structured product listings at the Irish Stock Exchange, said, “We welcome The Bank of New York as listing agent of specialist debt securities in Dublin. In addition to simpler issues such as Collateralised Loan Obligations (CLOs) and Collateralised Debt Obligations (CBOs), the Exchange has listed a number of complex structured products, such as real estate and property transactions, credit card receivables, synthetic securities and credit linked notes.”