| Service |
What we do |
Advantages of using Equity Trustees |
Debt & Securitisation Services
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Note/Bond Trustee
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Ensures that Issuers meet their obligations to repay principal and interest for investors.
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- One point of contact for communications between issuer and investors – particularly useful for Kangabond issuers
- Peace of mind for investors that a trustee is appointed allowing the Issuer to focus on commercial matters.
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Issuer Trustee (securitisation)
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Issues notes to investors and may be lender of record.
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- Established record of acting for Issuers of both wholesale and retail debt products in the market.
- Experienced and specialised note trustee in wholesale and retail DCM transactions.
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Issuing, calculation, paying agent and registrar
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Arranges for notes to be made eligible in Austraclear.
Issues notes and ensures smooth settlement with the lead managers for onward placement to the investors.
Maintains the register of investors.
Calculates interest on floating rate notes and makes interest and principal repayments to investors.
Communicates with investors and acts as a conduit between the Issuer and the investors.
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- Assurance that calculations performed correctly.
- Timely payment of interest and principal.
- Interfaces with Austraclear and noteholders on issuer’s behalf.
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Security Trustee
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Holds mortgage and/or PPSA security (property, shares, lien over bank accounts etc.) for bond/note holders and enforces if there is a default by the Issuer.
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- Potential events of default are properly investigated and remedial action prompt taken
- If an event of default occurs we take care of enforcing security for all creditors without conflict
- Expert handling of any concerns or queries by noteholders
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Standby Servicer (securitisation)
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Will step in as servicer should the original servicer be removed from the transaction.
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- Continuity of the transaction for the benefit of the investors in the event of a servicer default.
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Document Custodian (securitisation)
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Retains loan documents (such as mortgage packets) on behalf of the sponsor until the loan is discharged.
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- Established document custody facility with in excess of 50,000 wills stored in secure nationwide facilities.
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Trust Manager
(securitisation) |
Performs day-to-day management of the securitisation trusts and provides customised solutions |
- Cash flows are modelled in a market leading trust management system developed by TAO Solutions.
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Process Agent
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If a borrower or issuer is not incorporated in the jurisdiction of the governing transaction documents, a process agent is appointed to receive court process and forwards to the borrower or issuer.
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- Assurance that an established specialised fiduciary will ensure all process is served promptly and in accordance with the Process Agent Agreement.
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| Service |
What we do |
Advantages of using Equity Trustees |
Loan Market Services
|
Facility Agent
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Acts as intermediary between borrowers and lenders in a syndicated loan (ie. more than one lender), makes payments and communicates with lenders if there is a default or proposed amendment.
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- Assurance that the borrower(s) makes payments correctly.
- Assurance that there is proper communication with lenders for amendments, waivers or other interactions.
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Security Trustee/Agent
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Holds mortgage and/ or PPSA security (property, shares, lien over bank accounts etc) for lenders and enforces if there is a default by the borrower. |
- Potential events of default are properly investigated and remedial action taken.
- If an event of default occurs we take care of enforcing security for all lenders without conflict.
- Expert handling of any concerns or queries by lenders.
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