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Article: Federation Internationale de Football Association Selects The Bank of New York As Trustee for USD 420 Million Securitization.
- Article from:
- PR Newswire
- Article date:
- February 19, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- The Bank of New York today announced that it has been selected as security and note trustee, cash manager, escrow agent, and paying agent by the Federation Internationale de Football Association (FIFA) for a $420,000,000 private securitization of Notes due 2007.
The Notes are backed by corporate advertising rights as well as present and future contracts between FIFA and its official sponsors, making the transaction the first of its kind. No other corporation has ever launched a securitization backed purely by marketing revenues. Because of the transaction's unique requirements, The Bank of New York is serving in several capacities. In addition to ...