BNY Mellon Corporate Trust Appointed Trustee, Paying Agent and Registrar for Cameron County Regional Mobility Authority's $28.7 Million Bond Issue

NEW YORK, July 13 /PRNewswire-FirstCall/ -- BNY Mellon Corporate Trust has been appointed trustee, paying agent and registrar for Cameron County Regional Mobility Authority's $28.7 million issuance of Build America Bonds, the first initial public offering for a Texas regional mobility authority since the debt crisis in 2008.  Created by the American Recovery and Reinvestment Act of 2009, Build America Bonds provide state and local governmental entities with federal-subsidized funding at lower borrowing costs.

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.

"Our expertise in administering Build America Bond issuances will enable us to support the Cameron County Regional Mobility Authority in financing the rebuilding of its infrastructure," said Alex Tsarnas, managing director and head of the Corporate and Public Finance Group within BNY Mellon Corporate Trust.  "We have served as trustee on the offerings for many transportation financings in Texas, and this mandate reflects our leadership role and strong commitment to serving the needs of regional mobility authorities throughout the state."

BNY Mellon Corporate Trust 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 its global footprint and expertise to deliver a full range of issuer and related investor services and develop customized and market-driven solutions. Its range of core services includes debt trustee, paying agency, escrow and other fiduciary offerings.

Corporate trust providers are appointed by corporations, municipal governments and other entities issuing debt to perform a variety of duties, including servicing and maintaining the debt issue, processing principal and interest payments for investors, representing investors in defaults, and providing value-added services for complex debt structures.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).  BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets.  BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team.  It has $22.4 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day.  Additional information is available at www.bnymellon.com.

SOURCE BNY Mellon

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