Russia-based Vnesheconombank has selected BNY Mellon Corporate Trust as trustee, paying agent, calculation agent and transfer agent for the bank's $30bn Loan Participation Note Programme ( LPN Programme).

Jim Maitland, managing director and executive for the international region for corporate trust business at BNY Mellon, said: “This significant debt program required an institution with extensive experience and expertise in the debt capital markets. In 2010, we have seen debt market activity rebound in the Russian market, and we will continue to work closely with Vnesheconombank and our other issuer clients to support their debt servicing needs.”

According to BNY Mellon, its corporate trust business division services $12 trillion in outstanding debt from 61 locations in 20 countries. Its clients include governments and their agencies, multinational corporations, financial institutions and other entities that access the global debt capital markets.

The corporate trust business utilizes delivers a range of issuer and related investor services and develop customized and market-driven solutions. Its core services includes debt trustee, paying agency, escrow and other fiduciary offerings.