BNP Paribas was named the World’s Best Bank for Corporate Responsibility by finance magazine
The deal involved a synthetic collateralized debt obligation that was composed of three categories of issues. Global Corporate Trust was chosen to be Principal Paying Agent, Agent Bank, Listing Bank, Cash Manager, and Custodian for the collateral.
BNP Paribas London was put in charge of managing the accounts. The use of a Mezzanine Credit Default Swap made it possible to transfer the credit risk from one entity to a counterparty in exchange for the payment of a periodic premium.
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