As a leading corporate trust provider, U.S. Bank offers the full range of trust and agency services typically required to support debt capital market transactions. A critical part of this support includes functions such as Common Depository, Common Service Provider, Common Safekeeper and certain roles required to effect distribution at closing such as Settlement Agency.
The mechanics of the new issue process can be a “blackbox” to those not directly involved hence we are often asked by market participants to explain in more detail the various closing components such as payments flows, swift communications, note structures and delivery options. In response to this, the Business Development and Relationship Management team at U.S Bank now provide ad-hoc training sessions giving an insight into the various closing processes.
Topics covered during the sessions include:
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Types of new issue structures |
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Common depository (or Common Service Provider) functions and roles |
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New issuance process and parties involved |
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Settlement mechanics and the use of Settlement Agent |
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Requirements for the signing and closing agenda |
In addition, we are happy to focus on any post- closing aspects that may be of value such as the income distribution process and position reconciliation with the International Central
Securities Depositories (ICSDs)
. Further services we can include are corporate actions (and the events which trigger them), changes to asset |
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positions and typical SWIFT instructions which are required.
As a new issues account holder with the ICSDs we are often asked by arrangers to help facilitate the settlement process. In the absence of a large arranging bank we can act as Settlement Agent delivering proceeds to the issuer and notes to the investors. If you are unfamiliar with this process or need an agent to facilitate such actions please contact us to understand more.
We are happy to arrange training sessions at our offices or on-site and can tailor the material to your needs. “The feedback from previous sessions has been very positive” said Emma Hamley, VP Business Development. “We’ve had interest from the full range of market participants in particular legal counsel, who are keen to understand the work we do behind the scenes to ultimately effect a successful closing.”
For more information please contact us today. |
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