Marathon Asset Management has appointed investment services provider BNY Mellon as trustee, collateral administrator, paying agent and calculation agent for its $356 million CLO.
JPMorgan raised the CLO, which was rated by Standard & Poor’s.
BNY Mellon Corporate Trust will offer different services for Marathon Asset such as processing principal and interest payments and maintaining bondholder records.
“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.
“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.”
BNY Mellon Corporate Trust services $11.5 trillion in outstanding debt from 61 locations in 20 countries. Its clients comprisse governments and their agencies, multinational firms, financial institutions and other entities that access the global debt capital markets.
BNY Mellon is a global financial services firm that helps clients manage and service their financial assets. It operates in 36 countries and serves over 100 markets.
