New York, Sept. 5 - Bank of New York Mellon Trust Co., NA was the number one trustee for investment-grade bonds for yet another month, according to Prospect News data.
So far this year, the bank has been named trustee on $229.01 billion of bonds, 34.6% of the market.
The bank has led the year-to-date tables for every month this year and also for 2012 as a whole.
In second place were deals for which the issuer used a fiscal agent.
U.S. Bancorp was third year to date, as it was the previous month.
Although it remained in fourth place for the year so far, Deutsche Bank placed second for the month of August, behind only Bank of New York. For the month, Deutsche had a 13.8% market share. Its year-to-date share increased to 8.1% for the year through August from 7.5% for 2013 to the end of July.
The tables cover investment-grade bond deals offered in the United States via a registration with the Securities and Exchange Commission or under Rule 144A.
Trustee, U.S. market, year to date
2012 Comparables
| Trustee | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | BNY | 229.008 | 312 | 34.63% | 1 | 234.244 | 352 | 38.75%
|
| 2 | Fiscal agent | 64.225 | 27 | 9.71% | 3 | 44.658 | 22 | 7.39%
|
| 3 | USB | 61.539 | 126 | 9.31% | 2 | 50.468 | 105 | 8.35%
|
| 4 | Deutsche Bank | 53.224 | 80 | 8.05% | 4 | 43.885 | 60 | 7.26%
|
| 5 | Wells Fargo | 35.165 | 47 | 5.32% | 5 | 29.156 | 42 | 4.82%
|
| 6 | Wilmington | 7.671 | 11 | 1.16% | 8 | 8.166 | 16 | 1.35%
|
| 7 | Computershare | 5.417 | 6 | 0.82% | 12 | 2.747 | 3 | 0.45%
|
| 8 | Law Debenture Trust Co. | 3.577 | 4 | 0.54% | 9 | 7.547 | 7 | 1.25%
|
| 9 | HSBC | 2.813 | 5 | 0.43% | 7 | 9.180 | 10 | 1.52%
|
| 10 | UMB | 0.998 | 5 | 0.15% | 11 | 2.784 | 4 | 0.46%
|
| Total | 661.219 | 885 | 604.476 | 798 |
|
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|
| Trustee, U.S. market, August |
|
| | | | | 2012 Comparables |
|
| Trustee | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | BNY | 17.584 | 30 | 31.64% | 1 | 27.586 | 50 | 48.21%
|
| 2 | Deutsche Bank | 7.649 | 7 | 13.77% | 3 | 7.539 | 9 | 13.18%
|
| 3 | USB | 5.974 | 13 | 10.75% | 2 | 8.242 | 15 | 14.40%
|
| 4 | Fiscal agent | 3.249 | 2 | 5.85% | 6 | 0.997 | 1 | 1.74%
|
| 5 | Wells Fargo | 2.119 | 7 | 3.81% | 4 | 2.650 | 5 | 4.63%
|
| 6 | Wilmington | 0.720 | 1 | 1.30% | 7 | 0.500 | 1 | 0.87%
|
| 7 | Union | 0.698 | 2 | 1.26% |
|
| 8 | UMB | 0.448 | 3 | 0.81% | 8 | 0.299 | 1 | 0.52%
|
| Total | 55.569 | 88 | 57.218 | 94 |
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| Prospect News Investment Grade Trustee Rankings
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Criteria
• The tables include all underwritten dollar-denominated offerings sold in the United States as public or Rule 144A deals reported to Prospect News.
• Convertibles, trust preferreds and preferred stock are excluded.
• Emerging markets issuers are excluded.
• Minimum $75 million deal size.
• Deals rated investment grade by either Standard & Poor's or Moody's Investors Service are included.
• Offerings are included in the time period in which they price.
• Amounts are based on the total sales price (face amount multiplied by the offering price).
• Units made up of a bond and a warrant are included; other units are excluded.
• Each tranche is counted as a separate deal.
• Passthroughs, collateral trust and equipment trust certificates are included.
• Remarketings are excluded.
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