ICMSA Publication


ICMSA Bulletin 130625/23: Trustee fees and expenses caps

It is noted that, on certain structured finance transactions, caps on the fees, expenses and indemnification payments to certain transaction parties, including the trustee, may be sought.

In this paper, we summarise the approach taken by the major rating agencies (the “Rating Agencies”) in respect of such caps on trustees’ fees and expenses and note the issues which may arise for trustees when such fee caps are proposed.

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