By Andrea Heisinger
New York, Dec. 5 - The Bank of New York Mellon Trust Co., NA remains the lead trustee for the investment-grade bond market for the year to date through November for both U.S. issuers and those overall, according to Prospect News data.
Bank of New York placed first for the whole investment-grade market, taking a 36.9% share of the market, and for U.S. issuers only, where the bank took a 47.43% share of the market.
For the whole investment-grade market and for investment-grade excluding emerging markets, U.S. Bancorp was in second place. The figure largely reflects quasi-sovereign issuers. Among U.S. issuers, U.S. Bank was also in the second spot.
Deutsche Bank AG was third among all issuers, while Wells Fargo & Co. took third place for U.S. issuers.
The tables cover investment-grade 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 | 338.735 | 506 | 36.90% |
|
| 2 | USB | 98.829 | 169 | 10.77% |
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| 3 | Deutsche Bank | 56.772 | 78 | 6.18% |
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| 4 | Wells Fargo | 56.286 | 82 | 6.13% |
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| 5 | Fiscal agent | 55.886 | 29 | 6.09% |
|
| 6 | Citigroup | 18.609 | 12 | 2.03% |
|
| 7 | HSBC | 11.633 | 13 | 1.27% |
|
| 8 | Wilmington | 11.318 | 23 | 1.23% |
|
| 9 | Law Debenture Trust Co. | 7.547 | 7 | 0.82% |
|
| 10 | Computershare | 4.097 | 4 | 0.45% |
|
| Total | 918.049 | 1229 |
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| Trustee, U.S. market, U.S. issuers, year to date |
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| Trustee | Amount | No. | Share |
|
| . | BNY | 274.182 | 434 | 47.43% |
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| 2 | USB | 97.333 | 167 | 16.84% |
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| 3 | Wells Fargo | 48.693 | 74 | 8.42% |
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| 4 | Deutsche Bank | 35.207 | 45 | 6.09% |
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| 5 | Citigroup | 14.526 | 10 | 2.51% |
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| 6 | Wilmington | 6.327 | 16 | 1.09% |
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| 7 | HSBC | 4.667 | 7 | 0.81% |
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| 8 | JPMorgan | 2.994 | 3 | 0.52% |
|
| 9 | UMB | 2.784 | 4 | 0.48% |
|
| 10 | Fidelity Trust | 2.745 | 3 | 0.47% |
|
| Total | 578.016 | 903 |
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| Prospect News Investment Grade 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 and preferred stock are excluded.
• Emerging markets issuers are excluded.
• Minimum $75 million deal size.
• Deals rated investment grade by either Standard & Poor's or Moody's Investors Service 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.
• Each tranche is counted as a separate deal.
• Passthroughs, collateral trust and equipment trust certificates are included.
• Remarketings are excluded.
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