New York, Oct. 3 - Bank of New York Mellon Trust Co., NA was the top trustee for high-yield bonds for the first three quarters of 2012, according to data compiled by Prospect News.
Bank of New York placed first for the junk bond market as a whole, taking a 19.7% share, down slightly from 19.8% for the year through August. U.S. Bancorp was second followed by Wells Fargo.
Bank of New York was also first for U.S.-based issuers while U.S. Bancorp moved up to second, trailing by just $0.34 billion or 0.16% of the market.
Wells Fargo was third.
Starting this month, the Prospect News tables exclude emerging markets deals from the "all issuers" table.
The tables cover high-yield bond deals offered in the United States via a registration with the Securities and Exchange Commission or under Rule 144A. The name of the trustee was not available for all deals.
Trustee, U.S. market, all issuers, year to date
| Trustee | Amount | No. | Share |
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| 1 | BNY | 46.267 | 81 | 19.72% |
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| 2 | USB | 40.329 | 96 | 17.19% |
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| 3 | Wells Fargo | 38.329 | 75 | 16.34% |
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| 4 | Wilmington | 25.130 | 45 | 10.71% |
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| 5 | Deutsche Bank | 5.100 | 5 | 2.17% |
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| 6 | Regions Bank | 1.600 | 1 | 0.68% |
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| 7 | Manufacturers and Traders Trust | 1.250 | 2 | 0.53% |
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| 8 | Law Debenture Trust Co. | 1.213 | 3 | 0.52% |
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| 9 | Regions | 1.200 | 1 | 0.51% |
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| 10 | American Stock Transfer & Trust Co. | 0.800 | 3 | 0.34% |
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| Total | 234.623 | 484 |
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| Trustee, U.S. market, U.S. issuers, year to date |
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| Trustee | Amount | No. | Share |
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| 2 | BNY | 39.777 | 75 | 19.55% |
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| 3 | USB | 39.435 | 93 | 19.39% |
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| 4 | Wells Fargo | 38.241 | 74 | 18.80% |
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| 5 | Wilmington | 24.278 | 43 | 11.93% |
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| 6 | Deutsche Bank | 5.100 | 5 | 2.51% |
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| 7 | Regions Bank | 1.600 | 1 | 0.79% |
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| 8 | Manufacturers and Traders Trust | 1.250 | 2 | 0.61% |
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| 9 | Law Debenture Trust Co. | 1.213 | 3 | 0.60% |
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| 10 | Regions | 1.200 | 1 | 0.59% |
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| 11 | American Stock Transfer & Trust Co. | 0.800 | 3 | 0.39% |
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| Total | 203.423 | 426 |
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| Prospect News High Yield 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, capital securities and preferred stock are excluded.
• Deals rated investment grade by either Standard & Poor's or Moody's Investors Service are excluded, but deals not rated by both 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.
• Sovereign issues are excluded.
• Each tranche is counted as a separate deal.
• Passthroughs, collateral trust and equipment trust certificates are included.
• Best efforts and non-underwritten deals are excluded as are remarketings.
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