A Trustee’s Role

The Trustee is an independent and impartial third party who can play a critical role in acting as a bridge between the borrower and the holders of its debt securities during the life of a bond.

Trustee or Fiscal Agent?

Bond issuers and their advisers are often faced with a choice between appointing a trustee or a fiscal agent whether on a stand alone issue or for a medium-term note programme. A fiscal agent may have a superficial attraction in cost terms but an experienced trustee offers substantial advantages. Please click here for more information on Trustee and Fiscal Agents.

Breadth of Experience

We act as bond trustee for the whole spectrum of international capital markets transactions for sovereigns and corporate borrowers on bond issues, medium-term note programmes and convertible bonds, through to securitisations, project finance bond issues, and asset-backed programmes for banks. We act as security trustee and security agent both in the UK and overseas, holding security under local law in many jurisdictions throughout the world.


We act as bond and security trustee for transactions throughout the world and our unrivalled experience derives from operating in jurisdictions worldwide.

For more information on our Corporate Trust Services, please visit our Downloads page where you will find additional downloads.

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