The Bank of New York has been named the top trustee for U.S. taxable debt issuance for the first quarter 2005, and in a separate ranking, the Bank took the top position for U.S. long-term municipal new issues.
Taken together, The Bank of New said these rankings place the Bank as the number one overall U.S. trustee for all debt issuance based on number of issues for the fourth consecutive year. Both rankings are according to Thomson Financial, a provider of financial information and technology.
In the first quarter, the Bank served as trustee on 175 municipal issues, totaling $9.9 billion in proceeds. In the corporate (taxable) market, the Bank acted as trustee on 156 issues, totaling $96.5 billion in proceeds, totaling 331 issues. As part of the corporate ranking, the Bank held the number one trustee position in U.S. High Yield Debt issuance and the number two trustee position for both ABS and MBS debt issuance.
Karen Peetz, executive vice president and head of The Bank of New York’s Corporate Trust Services Division, said “Our number one ranking underscores our commitment to the industry and our leadership in the corporate trust arena. We continuously invest in our core services to ensure that we meet the increasingly complex needs of our clients, and we continue to expand our business through product innovation and customized services.”