State of Washington Chooses U.S. Bank as Fiscal Agent on Bond Issuances
October 23 2014 - 11:00AM
Business Wire
U.S. Bank has been selected as the Fiscal Agent for the State of
Washington. In this capacity, the U.S. Bank Global Corporate Trust
Services division will oversee over 2,500 bond issuances by more
than 250 bond issuing entities within the state including school
districts, cities, water and sewer authorities, and counties.
U.S. Bank, one of the largest providers of trustee services in
the nation, will maintain records of registered bondholders, make
principal and interest payments to bondholders, and provide
additional services to participating bond financing issuers. The
addition of fiscal agent services complements an already strong
relationship U.S. Bank has with the State of Washington, where it
also currently provides other trust, general banking services and
local government investment pool services.
“The scope of this transaction is significant and we are pleased
that the State of Washington chose U.S. Bank as its fiscal agent,”
said Bryan Calder, president of U.S. Bank Global Corporate Trust
Services. “We are honored to have the trust and confidence of the
state agencies we support and will continue to provide them with
the remarkable customer service they deserve.”
“U.S. Bank’s bondkeeping and web-based reporting services, along
with its local presence, will fully support business operations for
local government issuers across the state,” said State Treasurer
Jim Mcintire, Washington State. “As our future needs change, we are
confident that U.S. Bank will continue to invest in the development
and implementation of new technologies. On behalf of the State
Finance Committee, I commend the advisory group for their work
throughout the extensive selection process.”
The conversion of bond issuances to U.S. Bank is expected to
occur in the first quarter of 2015.
About U.S. Bank Global Corporate Trust ServicesU.S. Bank
Global Corporate Trust Services is one of the premier providers of
corporate trust services in the nation, serving private and public
companies, government and tax-exempt entities, and financial
services companies. The group operates a network of 50 domestic
offices and three international locations in Buenos Aires,
Argentina; London, England; and Dublin, Ireland.
About U.S. BankMinneapolis-based U.S. Bancorp (NYSE:
USB), with $391 billion in assets as of September 30, 2014, is the
parent company of U.S. Bank National Association, the 5th largest
commercial bank in the United States. The Company operates 3,177
banking offices in 25 states and 5,026 ATMs and provides a
comprehensive line of banking, brokerage, insurance, investment,
mortgage, trust and payment services products to consumers,
businesses and institutions. Visit U.S. Bancorp on the web at
usbank.com.
U.S. Bank Corporate CommunicationsTeri Charest,
612-303-0732teri.charest@usbank.com
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