2008-09-18 01:28:04 -
www.wilmingtontrust.com - Wilmington Trust Corporation News Media: Bill Benintende, Public Relations, 302-651-8268 wbenintende@wilmingtontrust.com or Investors and Analysts: Ellen J. Roberts, Investor Relations, 302-651-8069 eroberts@wilmingtontrust.com Wilmington Trust, a leading provider of institutional trustee, agency, and administrative services through its Corporate Client Services (CCS) business, said today that it has been named as indenture trustee for holders of approximately $47 billion of debt issued by Lehman Brothers Holdings, Inc. (Lehman Holdings), which filed for Chapter 11 protection on September 15, 2008 in the U.S. District Court for the Southern District of New York.
As indenture trustee, Wilmington Trust was appointed today by the United States Trustee to serve on the unsecured creditors' committee in the Lehman Holdings case. In this capacity,
Wilmington Trust provides trust and administrative services for some of Lehman Holdings' creditors. Through its CCS business, Wilmington Trust is paid a fee for these services, which are specified in documents that govern the trust. Wilmington Trust has no credit or investment exposure to Lehman Holdings in either its loan or investment securities portfolios.
"Our appointment as indenture trustee in this case reflects our position as a premier provider of trustee and administrative services for corporate clients," said Ted T. Cecala, Wilmington Trust's chairman and chief executive officer. "Lehman Holdings' bankruptcy filing does not affect our balance sheet or bottom line, and it poses no credit or investment risk to us."
About Wilmington Trust
Wilmington Trust Corporation (NYSE: WL) is a financial services holding company that provides Regional Banking services throughout the mid-Atlantic region, Wealth Advisory Services for high-net-worth clients in 36 countries, and Corporate Client Services for institutional clients in 86 countries. Its wholly owned bank subsidiary, Wilmington Trust Company, which was founded in 1903, is one of the largest personal trust providers in the United States and the leading retail and commercial bank in Delaware. Wilmington Trust Corporation and its affiliates have offices in Arizona, California, Connecticut, Delaware, Florida, Georgia, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman Islands, the Channel Islands, London, Dublin, Frankfurt, Luxembourg, and Amsterdam.
No credit or direct investment exposure involved in administrative
role
