BNY Mellon Corporate Trust has been appointed trustee and escrow agent for the Denver Regional Transportation District's (RTD) Eagle P3 $397.8m issuance of private activity bonds.
In its role, BNY Mellon Corporate Trust will provide a variety of services for the debt issue, including processing principal and interest payments and maintaining bondholder records.
BNY Mellon said it has also provided RTD with various banking and investment services related to the bond proceeds.
Alex Tsarnas, managing director and head of the Corporate and Public Finance Group within BNY Mellon Corporate Trust said through its expertise and experience in administering a wide range of bond financings, BNY Mellon is well equipped to support the Denver Regional Transportation District as it finances a project that will strengthen the transportation infrastructure in the area.
"Being appointed to service such a high profile P3 project underscores our leadership role in the public finance marketplace," Tsarnas said.