09/22/03
NEW YORK, N.Y., September 22, 2003 -- The Bank of New York announced today that it has been appointed by Companhia Brasileira de Meios de Pagamento (Visanet) to act as trustee, registrar, and paying agent for its US$500,000,000 credit card securitization.
The notes, issued by Brazilian Merchant Voucher Receivables Limited, were divided into two series: US$400,000,000 5.911% Notes, Series 2003-1 and US$100,000,000 4.777%, Series 2003-2. This is the first credit card securitization issued out of Brazil.
Steven Hodgetts, managing director and division head of global trust services for The Bank of New York, said, "Our appointment for this important securitization underscores The Bank of New York’s capabilities, experience, and commitment to the industry and is an acknowledgement of our reputation for high quality services in the South American market."
Companhia Brasileira de Meios de Pagamento (Visanet) was created in 1995 by Visa International and four Brazilian bank acquirers of Visa credit and debit cards to centralize certain aspects of the operation of the Visa program in Brazil. Visanet’s two largest shareholders, Banco do Brazil and Banco Bradesco, are participating in this securitization, each in the role of a "Designated Bank" acting through its Grand Cayman branch.
This announcement is not an offer to sell or a solicitation of an offer to buy any securities. The offering is made only by means of the prospectus.
The Bank of New York is a leading provider of corporate trust and agency services. The Bank and its subsidiaries and affiliates administer a portfolio of more than 85,000 trustee and agency appointments, representing more than $1 trillion in outstanding securities for more than 30,000 clients around the world. The Bank is a recognized leader for trust services in several debt products, including mortgage-backed and asset-backed securities, corporate and municipal debt, derivative security services and international debt offerings.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in securities servicing for issuers, investors and financial intermediaries. The Company plays an integral role in the infrastructure of the capital markets, servicing securities in more than 100 markets worldwide. The Company provides quality solutions through leading technology for global corporations, financial institutions, asset managers, governments, non-profit organizations, and individuals. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has a distinguished history of serving clients around the world through its five primary businesses: Securities Servicing and Global Payment Services, Private Client Services and Asset Management, Corporate Banking, Global Market Services, and Retail Banking. Additional information on the Company is available at www.bankofny.com.
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