Financial Services Group Trust Company has been appointed as trustee to the $650 million structured finance deal for the Southern Cross Airports Corporation Holdings (SCACH).
"The role of the trustee in these transactions is an important part of structured finance deal. The win recognises that Trust Company is a market leader for providing trustee services in these sorts of transactions," Trust managing director Jonathan Sweeney said.
Trust acts as a trustee to 40 per cent of the notes issued on the Australian Stock Exchange.
Recently Trust was appointed as a trustee in the capital raising transactions for companies Woolworths, Myer, NuFarm and investment bank Babcock & Brown.
Investment banks ABN Amro Rothschild and Macquarie Bank acted as the joint lead managers and underwriters for the SCACH transaction.
Under the deal, SCACH will raise $650 million by issuing 6.5 million securities called Sydney Kingsford Smith Interest Earning Securities (SKIES) at an issue price of $100 each.
