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LIBOR-SOFR Spread Adjustments: What History Tells Us About the Economics
Note that this presentation only focuses on SOFR loan origination and does not address credit sensitive rates. The presentation was done by Meredith Coffey, EVP…
LSTA Publishes Think Piece: “In Search of…’Fair’ Spread Adjustments for New SOFR Loans”
By Meredith Coffey. As everyone knows, no new USD LIBOR loans or CLOs should be originated after the end of 2021. We have been making…
In Search Of “Fair” Spread Adjustments for New SOFR Loans
As everyone knows, LIBOR is ceasing—and no new USD LIBOR loans or CLOs should be originated after the end of 2021. We have been making…
Got LIBOR Questions? We’ve Got LIBOR Answers
By Meredith Coffey. The LSTA recently published its LIBOR FAQs, a list of 12 questions (and answers).
Term SOFR Concept Document – The New Kid on the Block
By Tess Virmani. In light of the ARRC’s recommendation, the LSTA has prepared a draft Term SOFR Concept Document to augment its suite of SOFR-based…
LIBOR Transition FAQs
The UK’s Financial Conduct Authority (“FCA”)—the regulator of the ICE Benchmark Administration, the administrator of LIBOR—has said that all sterling, Swiss franc, euro and Japanese…
Fallbacks: Report from the Institutional Loan Trenches
Usage of ARRC Hardwired Fallbacks has grown significantly in recent months - building on the increased momentum we had already seen in 2021. Covenant Review…
LSTA Podcast: Term SOFR in Scope for Business Loans & CLOs
On Wednesday, July 21st, the ARRC recommended the use of Term SOFR for business loans, their hedges, and CLOs.
Term SOFR Conventions: (Almost) Just Like LIBOR
By Meredith Coffey. On July 21, the ARRC released recommended conventions for forward looking Term SOFR (and SOFR Averages in Advance) for syndicated and bilateral…
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