SOFR and Loans: What’s on Deck for 2020
As of January 7, 2020, there are 724 days until the potential end of LIBOR. Will the syndicated loan market be ready?
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LIBOR Problems? We Have LIBOR Answers
On September 3rd, we hit 850 days before the (earliest) potential end of LIBOR. So, what’s in your workflow for the next 850 days? To…
LIBOR Fallbacks: Good News… and Less Good News
There is good news – and less good news – on LIBOR fallback language in cash products like loans, FRNs and CLOs. On the good…
SOFR: Fallback Roadblocks Falling?
As the nearby story reports, we are quite excited to see a new CLO with “hardwired” LIBOR fallback language. (Hardwired fallback language is what is…
LIBOR Fallbacks: Are Loans and CLOs Aligned?
There are $1.2 trillion of institutional loans outstanding, and nearly $700 billion are housed in CLOs. When the reference rate of loans and CLOs are…
LIBOR Fallbacks: Syncing Loans and CLOs
As even most grandmothers now know, LIBOR – the world’s most important number – may end after 2021. For this reason, responsible loan market participants…
LIBOR Fallback (Consultations) Are Here!
(updated September 25, 2018) - On Monday, the Alternative Reference Rates Committee (ARRC) released two LIBOR fallback consultations – one for syndicated business loans and…
LIBOR Fallbacks: A Snapshot of Syndicated Loans
There are many things to do as the market prepares for a transition away from LIBOR. One of the first areas of focus is what…
LIBOR Update: One Small Step for SOFR
The multi-year march toward a LIBOR fallback/replacement for derivatives (and possibly loans) has taken another step. On August 27, 2017, the Federal Reserve issued a…
LIBOR: A Process, Not a Problem (II)
As LIBOR continues to create headlines in a sleepy August market, we wanted to update LSTA members on a number of issues. First, we recap…
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