11/12/03
NEW YORK, N.Y., November 12, 2003 - The Bank of New York announced today that it was ranked as the leading overall trustee provider for issues new to the U.S. taxable and long-term municipal debt markets during the first nine months of 2003, according to data compiled by Thomson Financial. The Bank of New York’s top ranking was based on the amount of capital raised in the transactions in each of the two categories, which, on a combined basis, aggregated 1,076 issues, representing nearly $270 billion in principal, that were brought to market during this period.
In addition to ranking number one, based on proceeds, in the categories of taxable debt and long-term municipal debt issued during the first three quarters of 2003, The Bank of New York was also the highest ranking trustee for new U.S. high-yield and convertible debt based on dollar amounts raised during this period. Thomson Financial provides the securities industry with a wide array of market volume statistics, including data on publicly held debt for the corporate trust industry.
Karen B. Peetz, executive vice president and head of the corporate trust division at The Bank of New York, said, "We are gratified that the corporate, municipal and structured debt markets continue to award us new trust appointments. We attribute this market success to our consistent efforts to support debt issuers with the personalized service provided by our relationship managers, innovative technologies and specialized debt products."
The Bank of New York is a leading provider of corporate trust and agency services. The Bank and its subsidiaries and affiliates administer a portfolio of more than 85,000 trustee and agency appointments, representing more than $1 trillion in outstanding securities for more than 30,000 clients around the world. The Bank is a recognized leader for trust services in several debt products, including mortgage-backed and asset-backed securities, corporate and municipal debt, derivative security services and international debt offerings.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in securities servicing for issuers, investors and financial intermediaries. The Company plays an integral role in the infrastructure of the capital markets, servicing securities in more than 100 markets worldwide. The Company provides quality solutions through leading technology for global corporations, financial institutions, asset managers, governments, non-profit organizations, and individuals. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has a distinguished history of serving clients around the world through its five primary businesses: Securities Servicing and Global Payment Services, Private Client Services and Asset Management, Corporate Banking, Global Market Services, and Retail Banking. Additional information on the Company is available at www.bankofny.com.
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