The Bank of New York was the number two overall trustee for all international bond issues in 2004, according to Thomson Financial. This is the first year that corporate trustee appointments in the international bond market have been tracked by Thomson Financial.
The Bank of New York was also ranked number one in separate trustee categories for International Investment Grade Bonds (excluding medium term notes, MTTs), International High Yield Bonds, International Structured Finance Issues, and International Emerging Market Issues.
Bank of New York argues that this result, coupled with the previously announced number one overall trustee ranking in the US marketplace, makes it the number one overall global trustee, based on the bank’s analysis of Thomson Financial data.
The lead global position results from trustee appointments on 1,815 new debt issues in US and international markets valued at more than $584 billion in proceeds, which represents 7.6 per cent of the global debt market. Paying agency appointments are not included in the ranking.
“This latest international ranking underscores our overall leadership in the global debt markets,” says Karen Peetz, executive vice president and Head of the Corporate Trust Division at The Bank of New York. “We are proud to add this acknowledgement of our international trustee position to our well-established leadership position in the U.S. markets. Our number one position across these diverse markets is a result of our deep experience in all types of financings. Our experience enables us to have greater insight into our clients’ needs and ultimately better solutions for their debt financings.”
The Bank of New York has more than 90,000 trustee and agency appointments, representing more than $2.7 trillion in outstanding securities for more than 30,000 clients around the world.