BNY Mellon Corporate Trust has been appointed trustee and escrow agent for the Denver Regional Transportation District’s (RTD) Eagle P3 $397.8 million issuance of private activity bonds.
In its role, BNY Mellon Corporate Trust will provide a variety of services for the debt issue, including processing principal and interest payments and maintaining bondholder records. BNY Mellon has also provided RTD with various banking and investment services related to the bond proceeds.
“Through our expertise and experience in administering a wide range of bond financings, we are well equipped to support the Denver Regional Transportation District as it finances a project that will strengthen the transportation infrastructure in the area,” says Alex Tsarnas, managing director and head of the Corporate and Public Finance Group within BNY Mellon Corporate Trust. “Being appointed to service such a high-profile P3 project underscores our leadership role in the public finance marketplace.”
The public private partnership (P3) between RTD and Denver Transit Partners will build the East line of FasTracks, bringing light rail out to Denver International Airport.