Bank of New York Mellon, a global asset management and securities services firm, has been appointed to serve as fiscal and paying agent on ST Engineering Financial I’s (STEF-1) new $1.2 billion Multicurrency Medium Term Note (MTN) Programme established on 6 July 2009.
The new MTN Programme was established as part of Singapore Technologies Engineering’s financing strategy to diversify its funding sources. It allows for the issue of medium term notes in any currency.
Reportedly, as fiscal and paying agent, Bank of New York Mellon will make interest and principal payments to investors on behalf of ST Engineering and handle other administrative duties related to the issuance of the notes.
Gary Lew, head of Asia Pacific, Corporate Trust at The Bank of New York Mellon, said: This renewed positive sentiment and increase in funding activity presents strong opportunities for our company.
