This practice note introduces the function of security trusts and the role of security trustees in finance transactions. Principally, the note is concerned with the use of trusts in England and Wales to hold security over a borrower's or other obligor's assets for the benefit of various finance parties under a syndicated loan agreement. The principles discussed will nevertheless apply equally to issues of secured bonds and notes and other situations where a group of funders are to have the benefit of security for the indebtedness owed to them.