BNY Mellon Appointed Trustee on Bonds Issued by Senior Quality Lifestyles Corporation
BNY Mellon, a global leader in investment management and investment services, has been appointed trustee, registrar and paying agent for $50.69 million in revenue bonds on behalf of the Querencia at Barton Creek retirement center in Austin, Texas. Querencia at Barton Creek is operated by Senior Quality Lifestyles Corporation (SQLC), a nonprofit organization operating six continuing care retirement communities in Texas and Indiana.
This transaction will fund renovation and expansion of common areas, including the spa, casual dining and theater, and the redemption of prior debt. BNY Mellon has acted as trustee for all 33 series of bond financings totaling $1.14 billion relating to the senior living communities supported by SQLC.
"BNY Mellon's strong financial strength and client service have been important factors in the success of these financings for senior living communities," said Charles B. Brewer CEO of SQLC.
"SQLC continues to meet the challenges of obtaining financing to develop communities for the expanding population of aging Americans," said Antonio Portuondo, head of BNY Mellon Corporate Trust's public and not-for-profit business. "We are committed to representing the interests of issuers, obligors and investors, which enhances the ability of our clients to access a broad range of investors."
BNY Mellon is a leading provider of corporate trust services to the debt capital markets, offering customized and market-driven solutions to investors, bondholders and lenders. As of Sept. 30, 2015, BNY Mellon Corporate Trust served as trustee and/or paying agent on more than 60,000 debt-related issues globally. The corporate trust business utilizes its global footprint and expertise to deliver a full range of issuer and related investor services including trustee, paying agency, fiduciary, escrow, and other financial services. The business administers a wide array of assets and types of programs to multinational corporations, financial institutions, governments and their agencies, and the banking, securities, and insurance industries.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of Sept. 30, 2015, BNY Mellon had $28.5 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available onwww.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.