Bank of New York Mellon has been appointed trustee and tender agent for San Francisco International Airport’s conversion of $266 million alternative minimum tax (AMT) bonds to non-AMT bonds.
Reportedly, in its role, The Bank of New York Mellon will provide a variety of services for the debt issue, including processing principal and interest payments and maintaining bondholder records.
Troy Kilpatrick, managing director and head of the Corporate and Municipal Finance Group within The Bank of New York Mellon’s Global Corporate Trust business, said: We are well positioned to provide trustee and administrative services for the growing number of issuers who want to take advantage of opportunities related to the American Recovery and Reinvestment Act.
