Indentures and Trustees: Applicable Laws and Regulations

Summary

This practice note discusses the U.S. federal securities laws and rules applicable to indentures and trustees. An indenture is an agreement between an issuer of debt securities and a trustee appointed to represent the interests of, and to act on behalf of, the debtholders. The indenture contains the terms of the securities, the responsibilities of the issuer and the trustee, the covenants of the issuer and any other obligors, and the rights of the security holders.