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追风少女田大壮 · 2025年04月28日

关于答案C

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问题如下:

TRSC, a trust company specializing in corporate investments, is brought in as a corporate trustee for a recent bond issue made by Banko, a small investment bank. The newly hired CFO of Banko is reviewing the roles of TRSC specified in the indenture for the bond issue. Which of the following statements is correct?

选项:

A.TRSC must monitor Banko’s financial situation to foresee any covenant breaches.

B.When deemed necessary, TRSC should take action beyond the terms of the indenture in order to protect bondholders.

C.TRSC must take action according to the terms of the indenture whenever it is requested by bondholders.

D.TRSC is paid by Banko to represent the interests of the bondholders.

解释:

D is correct. The trustee is paid by the debt issuer, not by bond holders or their representatives.

A is incorrect. Trustees are not always required to take actions to monitor indenture covenant compliance. Sometimes, the indenture states that the trustee can rely on the issuer and the issuer’s attorneys for information on whether some covenants are being adhered to. In such cases, the trustee is not required to conduct its own investigations.

B is incorrect. Trustees are under no obligation to exceed those duties assigned to them by the indenture.

C is incorrect. While a trustee’s role is to look after the interest of the bondholders, it does this through its specific duties as itemized in the bond indenture. A trustee does not act at a bondholder’s direction.

C为什么不对?我理解是受托人必须根据条款采取措施,当债券持有人要求时。

1 个答案

李坏_品职助教 · 2025年04月28日

嗨,从没放弃的小努力你好:


C说的“whenever it is requested by bondholders.”这个错了。他这说的是,只要债券持有人有要求,哪怕是随机的要求,也得满足。


trustee应该是严格按照债券条款事先约定的内容,履行自己的义务。不能完全按照债券持有人的随机的要求来做事。

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虽然现在很辛苦,但努力过的感觉真的很好,加油!

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