The Bank of New York Appointed as Trustee by Banco Industrial, S.A. Guatemala for First Diversified Payment Rights Transaction.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province 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. , a global leader in securities servicing, has been appointed by Banco Industrial, S.A., to provide indenture trustee, registrar 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. services for its debut diversified payment rights transaction. The $125 million Floating Rate Notes Series 2005-1 and $75 million Floating Rate Notes Series 2005-2 are Banco Industrial's first issuance of securities backed by U.S. dollar remittances generated from within Guatemala. Luis Prado, international division manager at Banco Industrial S.A., said, "We appointed The Bank of New York as trustee because of their vast experience and in-depth knowledge of this type of transaction, as well as their long-standing position as one of our correspondent banks Correspondent bank Bank that accepts deposits of, and performs services for, another bank (called a respondent bank); in most cases, the two banks are in different cities. ." Karen Peetz, executive vice president and head of The Bank of New York's Corporate Trust Division, said, "Our global structured finance team has a high level of diversified payment rights and future-flow expertise, which enabled us to successfully guide Banco Industrial and Guatemala through this debut transaction. We are highly proficient in servicing transactions of this nature, given the depth of our experience with clients in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and around the world." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the company's offering statement, Banco Industrial was founded in 1968 and is the largest bank in Guatemala, having a market share of 20% in terms of assets, loans, equity, foreign exchange operations and deposits. It consolidates an offshore bank, a finance company and a credit card issuer, and is the only bank in Guatemala to be rated by Standard & Poor's (BB-LT local currency), Moody's (Baa2 LT local currency) and Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. (BB-LT local currency). 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 90,000 trustee and agency appointments, representing $3 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 corporate and municipal debt, mortgage-backed and asset-backed securities, derivative securities services and international debt offerings. The Bank of New York has been conducting business in Latin America for over 100 years. The Company has representative offices in Argentina, Mexico and Brazil, and offers a full range of securities servicing, global payments, asset management and trade finance products. The Bank is committed to Latin America and to growing its business as the capital markets develop in the region. The Bank of New York Company, Inc. (NYSE NYSE See: New York Stock Exchange : BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets Financial assets Claims on real assets. in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, investment management, and individual & regional banking services. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com. This announcement is not an offer to sell or a solicitation of an offer to buy any securities. The offering is made only by means of the prospectus. |
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