New York, Feb. 5 - Wells Fargo was the number one trustee for high-yield bonds in January, according to data compiled by Prospect News.
The bank was named to 17.7% of the market, almost four percentage points ahead of Bank of New York Mellon Trust Co., NA, which took 13.8%.
Bank of New York was the number one trustee for all of 2012.
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
2012 Comparables
| Trustee | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | Wells Fargo | 5.575 | 7 | 17.65% | 4 | 1.700 | 4 | 7.96%
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| 2 | BNY | 4.354 | 10 | 13.78% | 2 | 6.986 | 13 | 32.70%
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| 3 | USB | 4.051 | 11 | 12.82% | 3 | 3.571 | 8 | 16.71%
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| 4 | Wilmington | 1.358 | 2 | 4.30% | 5 | 0.567 | 2 | 2.65%
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| 5 | American Stock Transfer & Trust Co. | 0.767 | 3 | 2.43% |
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| Total | 31.594 | 70 | 21.363 | 45 |
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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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