By Rebecca Melvin
New York, March 5 - Bank of New York Mellon Trust Co., NA remained the top trustee for convertible bonds for the year to date through February, after topping the list in January, according to data compiled by Prospect News.
BNY was the trustee for $525 million of new issuance in two deals, accounting for 62% of the total amount for the first two months of the year.
Wells Fargo was second place again as trustee for $325 million of new issuance in two deals, accounting for 38% of the total for the first two months of the year.
There were two new deals for the month of February, bringing the year's tally up to $850 million in four deals.
U.S. market, year to date
| Trustee | Amount | No. | Share |
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| 1 | BNY | 0.525 | 2 | 61.76% |
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| 2 | Wells Fargo | 0.325 | 2 | 38.24% |
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| Total | 0.850 | 4 |
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| Prospect News Convertibles 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.
• 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). The full amount is credited to the trustee.
• Each tranche is counted as a separate deal.
• Bonds are included that convert into the issuer's or another company's stock or the cash equivalent; bonds that convert into other bonds are excluded.
• Structured products are excluded.
• Preferred issues are included using the same criteria as for bonds.
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