MINNEAPOLIS, Jul 10, 2003 (BUSINESS WIRE) -- U.S. Bank today announced that
Caterpillar Financial Services Corporation has selected the bank as indenture
trustee and custodian for their asset-backed note financing, supported primarily
by new and used construction equipment lease and loan contracts. In its role as
indenture trustee and custodian for the $671 million Caterpillar Financial Asset
Trust 2003-A, U.S. Bank will be responsible for compliance oversight, file
maintenance, noteholder communication and processing of interest and principal
The servicer, Caterpillar Financial Services Corporation, headquartered in
Nashville, Tenn., is a wholly owned finance subsidiary of Caterpillar Inc. It
primarily provides financing for Caterpillar equipment sold through Caterpillar
dealers. Headquartered in Peoria, Ill., Caterpillar Inc. is the world's largest
manufacturer of construction and mining equipment, diesel and natural gas
engines, and industrial gas turbines.
"We chose U.S. Bank Corporate Trust Services as our business partner for
corporate trust services because of their experience and flexibility," said Greg
Simons, securitization funding manager, Caterpillar Financial Services
Corporation. "U.S. Bank has demonstrated a strong commitment to the corporate
trust business and is a proven market leader."
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 50,000
bond issues representing more than $1.35 trillion in outstanding municipal,
corporate, asset-backed and international securities.
U.S. Bancorp (NYSE:USB) is the parent company of U.S. Bank with assets in excess
of $182 billion and is the 8th largest financial services holding company in the
United States. The company operates 2,200 banking offices and 4,582 ATMs, and
provides a comprehensive line of banking, brokerage, insurance, investment,
mortgage, trust and payment services products to consumers, businesses and
institutions. U.S. Bancorp is home of the Five Star Service Guarantee which
assures customers of certain key banking benefits and services or customers will
be paid for their inconvenience. Visit U.S. Bancorp on the web at usbank.com.
SOURCE: U.S. Bank
CONTACT: U.S. Bank
Amy Frantti, 612/303-0733
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SOURCE: U.S. Bank