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A bond indenture, or trust deed, is a contractual agreement between the bond issuer and the holder, detailing terms to protect both parties' interests. Key information in the indenture includes the issuer's legal identity, par value, maturity date, coupon rate and frequency, issue location, and currency denomination. It also outlines sources of funding, collateral, credit enhancements, and covenants. Sources of funding describe how the issuer will manage debt servicing, which varies by the type of bond. Covenants are crucial components, divided into affirmative covenants, which mandate certain actions by the issuer (e.g., maintaining insurance), and negative covenants, which restrict actions (e.g., limiting additional debt).
