BNY Midwest Trust Company, a Subsidiary of The Bank of New York, to Provide Trustee and Custodian Services to Business Loan Express.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 30, 2002 Also Acting as Paying and Transfer Agent on its $100,000,000 Business Loan Backed Notes, Series 2002-A BNY BNY Bank of New York Midwest Trust Company, a subsidiary of The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , announced today that it has been selected to serve as an indenture trustee, transfer and paying agent Paying Agent An agent who accepts payments from the issuer of a security and then distributes the payments to the holders of the security. Also known as a "disbursing agent. and custodian for the $100,000,000 Business Loan Express Business Loan Backed Notes, Series 2002-A. Business Loan Express is a national non-bank lender that provides small business loans to a variety of industries. Richard Costantino, senior vice president and director of The Bank of New York's Structured Finance Group, said, "It is a great privilege to once again service Business Loan Express. We are particularly gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. when established corporate trust clients select us for additional services, as it attests to the high-quality services that we provide to our clients in this important market." Ted Horan, vice president at Business Loan Express, said, "This appointment further strengthens the mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" relationship between The Bank of New York and Business Loan Express." The Bank of New York is a leading provider of corporate trust and agency services. The Bank and its subsidiaries and affiliates administer a portfolio of more than 80,000 trustee and agency appointments, representing more than $1 trillion in outstanding securities for more than 30,000 clients around the world. The Bank is a recognized leader for trust services in several debt products, including mortgage-backed and asset-backed securities, corporate and municipal debt, derivative security Derivative security A financial security such as an option or future whose value is derived in part from the value and characteristics of another security, the underlying asset. services and international debt offerings. The Bank of New York, founded in 1784 by Alexander Hamilton, is the nation's oldest bank and is the principal subsidiary of The Bank of New York Company, Inc. (NYSE NYSE See: New York Stock Exchange : BK), a financial holding company. With over $80 billion in total assets as of June 30, 2002, the Company provides a complete range of banking and other financial services to corporations and individuals worldwide through its basic businesses, namely, Securities Servicing and Global Payment Services, Corporate Banking, BNY Asset Management and Private Client Services, Retail Banking, and Global Market Services. Additional information on the Company is available at www.bankofny.com. |
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