Bond Trustee

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Bond Trustee

An organization, almost always a financial institution, hired by a bond issuer to ensure the terms of the indenture and all applicable laws are being followed. The trustee has a fiduciary responsibility to act on behalf of the issuer, rather than in its own interests.
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The Bank of New York is one of the few bond trustees that specializes in these services.
If the company fails to comply with the covenants, the bond trustees could take steps to enforce the covenants and accelerate the payment of the bonds.
UMB also continues to solidly occupy the fourth-place ranking for municipal bond trustees nationally.
Fiduciary Communications, established in 1986, is the leading disseminator financial disclosure information in both print and electronic forms, serving over 300 bond trustees and issuers.
His clients have included state and local governments, agencies and authorities, non-profit corporations, institutional investors, service providers, bond trustees and underwriters.
Without an extension of the old credit or issuance of a new one, bond trustees may then be forced to call the letter of credit in order to pay the bondholders.
Its comprehensive public finance practice includes structuring and documenting primary offerings; counseling issuers and other participants in both the primary and secondary public markets; and representing bondholders, bond trustees, bond insurers and borrowers in restructuring or resolving troubled transactions.
We commend the efforts of the Muni-GIC Bond trustees and
The two governments appropriate required funds for debt service that are paid directly to bond trustees, the City University Construction Fund, a public benefit corporation.
Exact terms of the extension are unknown, but NBA has confirmed that it has successfully entered into a confidentiality agreement with KBC Bank (similar to those reached with bond trustees and certain fixed-rate bondholders).
Fiduciary Communications Group, through its Fiduciary Communications unit (FCC), will continue to offer bond trustees and issuers high-quality financial advertising and information transmission services under the leadership of its two senior officers, President Cathy Snider and Senior Vice President William Ardrey," Apfel continued.
The TD Banknorth portfolio includes bond trustee, paying/fiscal agent, master trustee, transfer agent and registrar appointments.