Deutsche Bank has been appointed depositary bank for the sponsored Level I American Depositary Receipt (ADR) program of IMMOFINANZ AG, a European listed property company.
IMMOFINANZ is listed on the ATX index of the Vienna Stock Exchange. Since its founding in 1990, it now has a portfolio of more than 1,830 investment properties valued at about 9.81 billion. The firm acquires, manages, develops and sells the properties from its presence in Austria, Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and Russia.
We are delighted to be acting as depositary bank on this ADR transaction with IMMOFINANZ, says Akbar Poonawala, head of Global Equity Services at Deutsche Bank. We look forward to providing this client with the highest level of service for their newly-launched program.
Meanwhile, BNY Mellon was appointed trustee, collateral administrator, paying agent and calculation agent by Silvermine Capital for its $450 million collateralized loan obligation (CLO). BNY Mellon will provide services including 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,” says Jocelyn Lynch, managing director at BNY Mellon Corporate Trust.
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