LSTA Newsletter: July 23, 2021
This week we cover Term SOFR OK'd for Loans, CLOs! Term SOFR Loan Conventions Released! Bankruptcy Solution II!
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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…
Term SOFR: Loans, CLOs in Scope!
By Meredith Coffey. This morning, the ARRC released best practice recommendations for the use of a SOFR Term Rate.
(Term) SOFR First?
By Meredith Coffey. Last week might have been a pivotal one for LIBOR transition. On Tuesday, collective announcements by the CFTC and the ARRC indicated…
CLOs & the Multi-rate World
By Meredith Coffey. It’s possible – indeed, inevitable – that loans will exist in a multi-rate world after LIBOR originations cease in late 2021.
Term SOFR Recommendation: Now in Clear Sight
By Tess Virmani. Today the ARRC has taken one step closer to making its Term SOFR recommendation.
Comparing LIBOR, BSBY & SOFR Curves
By Meredith Coffey. What’s the economic difference between LIBOR, CSRs and SOFRs?
ARRC: Term SOFR Coming Soon
By Meredith Coffey. On May 11th, the Alternative Reference Rates Committee (“ARRC”) held its second “SOFR Symposium”.
Term SOFR: An Inch Closer – and An Inch From the Finish Line?
By Tess Virmani. Today the ARRC announced the market indicators that would enable the ARRC to recommend a forward-looking term SOFR (“Term SOFR”).
PLI: 2021 Regulation and LIBOR Transition
In a PLI presentation on Tuesday, May 5th, LSTA EVP Meredith Coffey discussed the potential replacement rates, their strengths, their weaknesses and their economics.
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