What’s the Deal? – Trust Indenture Act

The Trust Indenture Act of 1939 (the “Trust Indenture Act” or the “TIA”) is the federal statute regulating the offer and sale of certain debt securities. The TIA, which is closely integrated with the Securities Act of 1933 (the “Securities Act”), protects certain rights of security holders, imposes minimum obligations on trustees and obligors, and confers on trustees the powers and resources needed to meet obligations to investors. All of these provisions result from the process of indenture qualification.

In this What’s the Deal? guide, we provide an overview of the Trust Indenture Act.