New York, March 5 - Wells Fargo moved up to the top position among trustees for high-yield bonds for the year so far, according to data compiled by Prospect News.
Wells Fargo had been second in January.
Regions, the leader last month, fell to third place. Its position was entirely due to its appointment to the $4 billion bond offering in two parts by Community Health Systems, Inc. via FWCT-2 Escrow Corp. Regions was not named to any additional deals in February.
Wilmington took second position for the year so far.
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
2013 Comparables
| Trustee | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | Wells Fargo | 7.593 | 16 | 20.30% | 2 | 10.767 | 19 | 20.06%
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| 2 | Wilmington | 5.556 | 7 | 14.85% | 4 | 4.576 | 6 | 8.53%
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| 3 | Regions | 4.000 | 2 | 10.69% |
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| 4 | BNY | 2.564 | 8 | 6.85% | 3 | 10.080 | 20 | 18.78%
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| 5 | USB | 2.014 | 8 | 5.38% | 1 | 13.954 | 31 | 26.00%
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| 6 | Deutsche Bank | 0.800 | 2 | 2.14% | 6 | 0.400 | 1 | 0.75%
|
| 7 | American Stock Transfer & Trust | 0.500 | 1 | 1.34% |
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| Total | 37.411 | 76 | 53.673 | 120 |
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| Trustee, U.S. market, February |
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| | | | | 2013 Comparables |
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| Trustee | Amount | No. | Share | Rank | Amount | No. | Share
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| 1 | Wilmington | 4.788 | 4 | 32.17% | 4 | 1.893 | 3 | 8.54%
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| 2 | Wells Fargo | 3.736 | 8 | 25.10% | 3 | 3.753 | 9 | 16.92%
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| 3 | USB | 1.405 | 4 | 9.44% | 1 | 9.103 | 18 | 41.05%
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| 4 | BNY | 0.875 | 4 | 5.88% | 2 | 4.430 | 7 | 19.97%
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| 5 | American Stock Transfer & Trust | 0.500 | 1 | 3.36% |
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| Total | 14.886 | 33 | 22.178 | 51 |
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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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