EXHIBIT 25.3
= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =
FORM T-1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE
ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2) |__|
___________________________
THE BANK OF NEW YORK
(Exact name of trustee as specified in its charter)
New York 13-5160382
(State of incorporation (I.R.S. employer
if not a U.S. national bank) identification no.)
One Wall Street, New York, N.Y. 10286
(Address of principal executive offices) (Zip code)
___________________________
Marsh & McLennan Companies, Inc.
(Exact name of obligor as specified in its charter)
Delaware 36-2668272
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification no.)
1166 Avenue of the Americas
New York, New York 10036
(Address of principal executive offices) (Zip code)
Senior Debt Securities
(Title of the indenture securities)
= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =
2
1. General information. Furnish the following information as to the Trustee:
(a) Name and address of each examining or supervising authority to
which it is subject.
- ------------------------------------------------------------------------------------------------------------------
Name Address
- ------------------------------------------------------------------------------------------------------------------
Superintendent of Banks of the State of 2 Rector Street, New York, N.Y.
New York 10006, and Albany, N.Y. 12203
Federal Reserve Bank of New York 33 Liberty Plaza, New York, N.Y.
10045
Federal Deposit Insurance Corporation Washington, D.C. 20429
New York Clearing House Association New York, New York 10005
(b) Whether it is authorized to exercise corporate trust powers.
Yes.
2. Affiliations with Obligor.
If the obligor is an affiliate of the trustee, describe each such affiliation.
None.
16. List of Exhibits.
Exhibits identified in parentheses below, on file with the Commission, are incorporated herein
by reference as an exhibit hereto, pursuant to Rule 7a-29 under the Trust Indenture Act of 1939
(the "Act") and 17 C.F.R. 229.10(d).
1. A copy of the Organization Certificate of The Bank of New York (formerly Irving Trust
Company) as now in effect, which contains the authority to commence business and a
grant of powers to exercise corporate trust powers. (Exhibit 1 to Amendment No. 1 to
Form T-1 filed with Registration Statement No. 33-6215, Exhibits 1a and 1b to Form T-1
filed with Registration Statement No. 33-21672 and Exhibit 1 to Form T-1 filed with
Registration Statement No. 33-29637.)
4. A copy of the existing By-laws of the Trustee. (Exhibit 4 to Form T-1 filed with
Registration Statement No. 33-31019.)
6. The consent of the Trustee required by Section 321(b) of the Act.
7. A copy of the latest report of condition of the Trustee published pursuant to law or to
the requirements of its supervising or examining authority.
3
SIGNATURE
Pursuant to the requirements of the Act, the Trustee, The Bank of New York, a corporation organized
and existing under the laws of the State of New York, has duly caused this statement of eligibility to
be signed on its behalf by the undersigned, thereunto duly authorized, all in The City of New York,
and State of New York, on the 13th day of July, 2004.
THE BANK OF NEW YORK
By: /S/ ROBERT A. MASSIMILLO
_____________________________
Name: ROBERT A. MASSIMILLO
Title: VICE PRESIDENT
4
EXHIBIT 7
- ------------------------------------------------------------------------------------------------------------------
Consolidated Report of Condition of
THE BANK OF NEW YORK
of One Wall Street, New York, N.Y. 10286
And Foreign and Domestic Subsidiaries,
a member of the Federal Reserve System, at the close of business March 31, 2004, published in accordance
with a call made by the Federal Reserve Bank of this District pursuant to the provisions of the Federal
Reserve Act.
Dollar Amounts
ASSETS In Thousands
Cash and balances due from depository institutions:
Noninterest-bearing balances and currency
and coin............................................ $2,589,012
Interest-bearing balances........................... 8,872,373
Securities:
Held-to-maturity securities......................... 1,382,393
Available-for-sale securities....................... 21,582,893
Federal funds sold and securities purchased under
agreements to resell................................
Federal funds sold in domestic offices.............. 792,900
Securities purchased under agreements to
resell.............................................. 932,155
Loans and lease financing receivables:
Loans and leases held for sale...................... 555,415
Loans and leases, net of unearned
income............................................ 36,884,850
LESS: Allowance for loan and
lease losses...................................... 628,457
Loans and leases, net of unearned
income and allowance.............................. 36,256,393
Trading Assets......................................... 3,654,160
Premises and fixed assets (including capitalized
leases)............................................. 929,969
Other real estate owned................................ 319
Investments in unconsolidated subsidiaries and
associated companies................................ 247,156
Customers' liability to this bank on acceptances
outstanding......................................... 215,581
Intangible assets......................................
Goodwill............................................ 2,687,623
Other intangible assets............................. 752,283
Other assets........................................... 7,905,137
___________
Total assets........................................... $89,355,762
===========
LIABILITIES
Deposits:
In domestic offices................................. $33,940,195
Noninterest-bearing................................. 13,973,047
Interest-bearing.................................... 19,967,148
In foreign offices, Edge and Agreement
subsidiaries, and IBFs............................ 22,717,175
Noninterest-bearing................................. 447,242
Interest-bearing.................................... 22,269,933
Federal funds purchased and securities sold under
agreements to repurchase..........................
Federal funds purchased in domestic
offices........................................... 442,904
Securities sold under agreements to
repurchase........................................ 671,802
Trading liabilities.................................... 2,452,604
Other borrowed money:
(includes mortgage indebtedness and obligations
under capitalized leases)........................... 10,779,148
Bank's liability on acceptances executed and
outstanding......................................... 217,705
Subordinated notes and debentures...................... 2,390,000
Other liabilities...................................... 7,230,967
___________
Total liabilities...................................... $80,842,500
===========
Minority interest in consolidated
subsidiaries........................................ 141,523
EQUITY CAPITAL
Perpetual preferred stock and related
surplus............................................. 0
Common stock........................................... 1,135,284
Surplus................................................ 2,080,657
Retained earnings...................................... 5,021,014
Accumulated other comprehensive income................. 134,784
Other equity capital components........................ 0
- ------------------------------------------------------------------------------------------------------------
Total equity capital................................... 8,371,739
___________
Total liabilities minority interest and equity capital. $89,355,762
===========
2
I, Thomas J. Mastro, Senior Vice President and Comptroller of the above-named bank do hereby
declare that this Report of Condition is true and correct to the best of my knowledge and belief.
Thomas J. Mastro,
Senior Vice President and Comptroller
We, the undersigned directors, attest to the correctness of this statement of resources and
liabilities. We declare that it has been examined by us, and to the best of our knowledge and belief has
been prepared in conformance with the instructions and is true and correct.
__
Thomas A. Renyi |
Gerald L. Hassell |
Alan R. Griffith | Directors
__|
- ------------------------------------------------------------------------------------------------------------------------------------
3