How to Find a Bondholder: DTC and Its Role in Structured Finance Transactions

April 05, 2010
How do you find a bondholder? This is a question we get a lot these days. As the commercial real estate market continues to suffer distress, this question gains increasing significance due to important control rights held by certain bondholders. This update examines the role of the Depository Trust Company (“DTC”), how investors hold through DTC, the practical effects of DTC, and the steps commonly taken to identify the beneficial owner of a DTC bond.