BNY Mellon number one trustee for high-yield bonds in 2012

New York, Jan. 4 - Bank of New York Mellon Trust Co., NA was the top trustee for high-yield bonds in 2012, according to data compiled by Prospect News.

Bank of New York placed first for the junk bond market as a whole, excluding emerging markets deals, recording a 20.5% share.

U.S. Bancorp was second and Wells Fargo was third. The two institutions had exchanged places in the final month of the year, and ended separated by just 0.4% of the market, or less than $1.4 billion.

By number of transactions, U.S. Bancorp was first, with 141, followed by Bank of New York Mellon with 116 and Wells Fargo with 113.

For U.S.-based issuers only, Bank of New York was first. U.S. Bancorp placed second and Wells Fargo third.

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
1	BNY	67.286	116	20.52%
2	USB	59.709	141	18.21%
3	Wells Fargo	58.367	113	17.80%
4	Wilmington	27.112	54	8.27%
5	Deutsche Bank	5.922	8	1.81%
6	Law Debenture Trust Co.	5.513	7	1.68%
7	Regions Bank	2.800	2	0.85%
8	Manufacturers and Traders Trust	1.250	2	0.38%
9	HSBC	1.150	2	0.35%
10	Scotia	1.004	4	0.31%
	Total	327.938	688
Trustee, U.S. market, U.S. issuers, year to date
	Trustee	Amount	No.	Share
1	BNY	61.243	107	21.13%
2	USB	58.815	138	20.29%
3	Wells Fargo	57.679	111	19.90%
4	Wilmington	26.259	52	9.06%
5	Law Debenture Trust Co.	5.513	7	1.90%
6	Deutsche Bank	5.425	7	1.87%
7	Regions Bank	2.800	2	0.97%
8	Manufacturers and Traders Trust	1.250	2	0.43%
9	HSBC	1.150	2	0.40%
10	Scotia	1.004	4	0.35%
	Total	289.812	608
Prospect News High Yield Trustee Rankings

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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