security trustee

security trustee
A trust can be used as a means of holding security over assets of a debtor for a number of creditors, for example, in a syndicated loan or a securitisation transaction. A security trustee is the entity holding the various security interests created on trust for the various creditors, such as banks or bondholders. This structure avoids granting security separately to all creditors which would be costly and impractical.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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