English law trust deed review and negotiation checklist for first-time debt securities issuers (secured/unsecured)

Published by a LexisNexis Banking & Finance expert

Checklists

What this checklist covers

This checklist identifies the principal matters a solicitor advising a first time issuer should review and, where appropriate, propose amendments to when considering an English law trust deed for a debt securities issue. It applies to trust deeds for both secured and unsecured debt securities. It should be read alongside Practice Note: Trust deed—first time issuer's guide, which explains:

the advantages and disadvantages of appointing trustees in debt capital markets transactions and the nature of the relationship between an issuer and a trustee, and
the practical aspects of the main provisions commonly included in trust deeds for debt capital markets transactions

Although the terms and conditions of the debt securities being issued will be set out in an annex to the trust deed, this checklist does not cover terms and conditions—these are addressed in Terms and conditions—first time issuer's negotiation checklist and Practice Note: Terms and conditions—first time issuer's guide. References are made to provisions by their usual titles, and in the order typically found in trust deeds, though these may differ from transaction to transaction...

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Web page updated on 20/05/2026

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