The Bank of New York Mellon, through its subsidiary BNY Trust Company of Canada, has been appointed collateral trustee, intercreditor agent, indenture trustee and administrative agent for the bond issue and syndicated loan facility which will be used to build Niagara Health System’s new Health-Care Complex and Walker Family Cancer Centre in St. Catharines, Ontario.
The USD759 million health care complex will consolidate acute and ambulatory services, cardiac catheterization, cancer treatment and longer-term mental health services.
BNY Trust Company of Canada will assume a broad range of administrative roles for the financing, including processing of principal and interest payments, maintaining noteholder records, monitoring collateral and collecting and disbursing insurance proceeds.
“We are pleased to support this important project, which will greatly enhance the area’s health care infrastructure,” says Jerome Dwight, head of BNY Trust Company of Canada.
The Bank of New York Mellon and BNY Trust Company of Canada provide global trust and agency services to Canadian issuers interested in tapping the capital markets, as well as any issuer looking to issue in the Canadian domestic capital markets.
L.D.