New York, Jan. 6 - Wells Fargo was the number one trustee for 2013, displacing Bank of New York Mellon, which led the tables for 2012, according to data compiled by Prospect News.
Wells Fargo was named to $67.06 billion of junk bonds in 124 deals during the year, 20.6% of the market. Bank of New York was only a small amount behind with $66.13 billion in 106 deals, giving it a 20.4% share.
U.S. Bancorp was third and Wilmington fourth for the year, both unchanged from 2012. Deutsche Bank moved up one place to fifth.
Bank of New York, however, was first for the fourth quarter and for December.
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.
Trustee, U.S. market, year to date
2012 Comparables
| Trustee | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | Wells Fargo | 67.059 | 124 | 20.64% | 2 | 64.760 | 124 | 19.80%
|
| 2 | BNY | 66.132 | 106 | 20.35% | 1 | 69.251 | 119 | 21.17%
|
| 3 | USB | 46.225 | 120 | 14.22% | 3 | 59.709 | 141 | 18.26%
|
| 4 | Wilmington | 17.680 | 47 | 5.44% | 4 | 30.745 | 61 | 9.40%
|
| 5 | Deutsche Bank | 15.026 | 19 | 4.62% | 6 | 5.922 | 8 | 1.81%
|
| 6 | Regions | 2.050 | 3 | 0.63% | 7 | 2.800 | 2 | 0.86%
|
| 7 | American Stock Transfer & Trust Co. | 1.198 | 5 | 0.37% | 12 | 0.800 | 3 | 0.24%
|
| 8 | Union Bank | 0.897 | 2 | 0.28% | 11 | 0.991 | 2 | 0.30%
|
| 9 | Law Debenture Trust Co. | 0.720 | 1 | 0.22% | 5 | 6.803 | 9 | 2.08%
|
| 10 | BB&T | 0.700 | 1 | 0.22% |
|
| Total | 324.972 | 696 | 327.055 | 691 |
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| Trustee, U.S. market, fourth quarter |
|
| | | | | 2012 Comparables |
|
| Trustee | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | BNY | 15.582 | 23 | 20.96% | 1 | 19.631 | 33 | 21.08%
|
| 2 | Wells Fargo | 10.799 | 21 | 14.53% | 2 | 17.470 | 36 | 18.76%
|
| 3 | USB | 9.499 | 24 | 12.78% | 3 | 17.332 | 40 | 18.61%
|
| 4 | Deutsche Bank | 8.485 | 9 | 11.41% | 7 | 0.772 | 2 | 0.83%
|
| 5 | Wilmington | 3.046 | 8 | 4.10% | 5 | 3.006 | 10 | 3.23%
|
| 6 | Regions | 0.750 | 1 | 1.01% |
|
| 7 | Computershare | 0.500 | 1 | 0.67% | 8 | 0.500 | 1 | 0.54%
|
| 8 | UMB | 0.350 | 1 | 0.47% |
|
| Total | 74.346 | 154 | 93.131 | 208 |
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| Trustee, U.S. market, December |
|
| | | | | 2012 Comparables |
|
| Trustee | Amount | No. | Share | Rank | Amount | No. | Share
|
| 1 | BNY | 6.528 | 5 | 29.13% | 3 | 4.060 | 6 | 15.15%
|
| 2 | USB | 3.950 | 9 | 17.62% | 1 | 6.308 | 13 | 23.53%
|
| 3 | Wells Fargo | 3.435 | 6 | 15.33% | 2 | 5.060 | 11 | 18.88%
|
| 4 | Wilmington | 0.404 | 2 | 1.80% | 4 | 1.109 | 5 | 4.14%
|
| 5 | UMB | 0.350 | 1 | 1.56% |
|
| Total | 22.412 | 45 | 26.804 | 63 |
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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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