By Rebecca Melvin
New York, April 4 - American Stock Transfer & Trust Co. LLC unseated Bank of New York Mellon Trust Co., NA as top trustee for convertible bonds for the year to date through March, according to data compiled by Prospect News.
American Stock Transfer & Trust was the trustee for $995 million of new issuance, accounting for 28% of the total amount for the first three months of the year.
U.S. Bancorp was a close second as trustee for $939 million in issuance, accounting for 26.6% of the total.
BNY came in third as trustee for $750 million in three deals, accounting for 21.2% of the total.
Wells Fargo & Co. came in fourth as trustee for $575 million of new issuance in three deals, accounting for 16.3% of the total for the first three months of the year.
There were eight new deals for the month of March, bringing the year's tally up to $3.52 billion in 12 deals.
U.S. market, year to date
| Trustee | Amount | No. | Share |
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| 1 | American Stock Transfer & Trust | 0.995 | 1 | 28.15% |
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| 2 | USB | 0.939 | 3 | 26.55% |
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| 3 | BNY | 0.750 | 3 | 21.21% |
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| 4 | Wells Fargo | 0.575 | 3 | 16.26% |
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| Total | 3.535 | 12 |
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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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