BNY Mellon has been appointed trustee, collateral administrator, paying agent and calculation agent by Marathon Asset Management for its $356 million collateralized loan obligation (CLO).
In its role, BNY Mellon Corporate Trust will provide a variety of services for Marathon Asset Management, including processing principal and interest payments and maintaining bondholder records.
"We remain committed to servicing the CLO marketplace, which has shown strong signs of life following the financial crisis," said Jocelyn Lynch, managing director at BNY Mellon Corporate Trust. "We are well equipped to support Marathon as they execute and manage this offering."
"Marathon is pleased to issue its latest CLO and partner with the best service providers in the market. BNY Mellon is one of the best and provides us with excellent quality service," said Andrew Rabinowitz, COO and partner at Marathon Asset Management.
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