MINNEAPOLIS--(BUSINESS WIRE)--June 28, 2007--U.S. Bank today
announced that Deere & Company has selected the bank as indenture
trustee for its asset-backed note financing supported primarily by
agricultural and construction retail installment sale and loan
contracts secured by new and used agricultural, construction and
forestry equipment. In its role as indenture trustee for the
$1,000,800,000 John Deere Owner Trust 2007, U.S. Bank will be
responsible for compliance oversight, noteholder communication and
processing of interest and principal payments.
The Servicer, John Deere Capital Corporation, is a wholly owned
finance subsidiary of John Deere. It primarily provides financing for
John Deere equipment sold through John Deere dealers. Headquartered in
Moline, Ill., Deere & Company is the world's leading provider of
advanced products and services for agriculture and forestry and a
major provider of advanced products and services for construction,
lawn and turf care, landscaping and irrigation.
"U.S. Bank is pleased to be chosen as indenture trustee for John
Deere and to expand our relationship with a successful market leader,"
said Bryan Calder, president of U.S. Bank Corporate Trust Services.
"We are well-suited to meet the detailed trust needs this transaction
requires and to provide the excellent customer service that a quality
organization such as John Deere expects."
U.S. Bank Corporate Trust Services is one of the nation's largest
providers of corporate trust services, administering a diverse
portfolio of more than 81,000 bond issues representing more than $2.5
trillion in outstanding municipal, corporate, asset-backed and
U.S. Bancorp (NYSE:USB), with $221 billion in assets, is the
parent company of U.S. Bank, the 6th largest commercial bank in the
United States. The company operates 2,498 banking offices and 4,837
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 www.usbank.com.
CONTACT: U.S. Bancorp
Amy Frantti, Media Relations, 612-303-0733
SOURCE: U.S. Bancorp