Bondholder representative
A person acting in the interests of all holders of an issue: monitoring compliance with the terms and presenting claims to the issuer on their behalf.
How to read the number
Having a representative spares the holder from suing the issuer alone and makes creditors act in concert rather than at cross purposes.
When the metric lies
The representative is engaged within the issue, and their work is visible only through disclosure. Initiative where no formal breach has yet occurred is not to be expected.
Also known as: trustee for holders, bond trustee