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11 Nov 2020

LIBOR discontinuation and its impact for borrowers in the international debt markets

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Current expectation is that LIBOR as a benchmark rate will cease to exist after the end of 2021, or, if it does continue to exist, that it will no longer pass regulatory tests of representativeness. The scale of the task involved in transitioning away from LIBOR to new rates has been described as being a complex a task as any faced by the financial sector over the past decade and therefore should not be underestimated.

In a webinar held on 10 November 2020 a team of experts from Stephenson Harwood’s Finance group discussed the discontinuation of LIBOR, with a particular focus on issues of concern to borrowers (in both the lending and bond markets).

The webinar covered:

  • an introduction to the transition from LIBOR to so-called “risk free” rates;
  • how transition away from LIBOR and the use of new risk free rates is impacting on the loan market (with particular emphasis on the issues borrowers may wish to consider);
  • what the bond market is doing about LIBOR transition; and
  • what borrowers should be doing now to address LIBOR transition issues.
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Jeremy Grant

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