October 15, 2015

BNY Mellon Holds Leading Market Share as Trustee for High Yield Bonds

Company has become the leading trustee for high-yield bonds, moving up from fourth place last year


BNY Mellon was the leading trustee for high-yield bond issues in the U.S. market for the first nine months of 2015, according to Prospect News High Yield Daily. For the period, BNY Mellon was the trustee on 30.9 percent of all high-yield deals, accounting for $71 billion in bonds.

This was a significant increase from the comparable period in 2014 when BNY Mellon was ranked fourth, with 12.7 percent of the market, accounting for $32 billion in bonds, according to the publication.

Kathleen Scott, BNY Mellon's Corporate Trust Segment Head for Corporate and Insurance customers, noted that the company's improvement in the high-yield bond market is consistent with its recent improvement in investment grade corporate bonds, where the company also is the leading trustee.

“We believe our improved service model, our strong client relationships, and the financial strength of our institution have positioned us well to capture an increased share of the market opportunities available this year,” she said.