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Wilmington Trust (London) Limited, a subsidiary of Wilmington Trust, a premier provider of institutional trustee, agency, and administrative services through its Corporate Client Services (CCS) business, was appointed as trustee for the exchange bonds and new debt securities issued on March 12 by the Hellenic Republic, commonly known as Greece, under its debt restructuring programme.
Specifically, Wilmington Trust (London) Limited will serve as trustee for €55.8 billion in aggregate principal amount of exchange bonds and the €55.8 billion in notional amount of GDP-linked securities issued by the Hellenic Republic.
“Wilmington Trust’s appointment as trustee of the largest sovereign debt restructuring in history is a reflection of Wilmington Trust’s reputation as the provider of choice for expert trustee and administrative services,” said Jack Beeson, head of Wilmington Trust’s Global Capital Markets business.
Wilmington Trust is not a direct holder of debt issued by the Hellenic Republic and has no direct credit exposure to the Hellenic Republic.
“This appointment demonstrates the growing demand for Wilmington Trust’s conflict-free, impartial services it provides to clients throughout our Global Capital Markets Group,” said John Traynor, managing director and European head of sales and marketing, who is based in London. CCS offers institutional trustee, agency, asset management, retirement plan, and administrative services for clients worldwide who use capital markets financing structures, as well as those who seek to establish or maintain nexus, or legal residency, for special purpose entities.