LIBOR and benchmarks

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Practice notes
What is a direct agreement?Direct agreements are very common in project finance transactions. A direct agreement is an agreement which gives the...
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9th Nov
Practice notes
BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be...
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9th Nov
Practice notes
This Practice Note covers the typical structure of facility agreements and the key terms and provisions that will be included. It examines the process...
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9th Nov
Practice notes
What is a 'capital call facility'?A capital call facility is a form of finance provided by a lender to a fund and typically secured against investors’...
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Produced in partnership with Peter Olds of Cleary, Gottlieb, Steen & Hamilton 12th Jan
Practice notes
In many commercial finance transactions, lenders expect to be given some form of credit support to increase their confidence in being able to recover...
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9th Nov
Practice notes
This Practice Note considers the costs that a lender operating in the interbank market will incur when providing funding to a borrower and the steps...
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9th Nov
Practice notes
There are times when a lender might want to get back some of the money it has lent to a borrower before the borrower is due to repay it.If the...
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9th Nov
Practice notes
A 10b-5 letter (also referred to as a 'disclosure letter') is a letter delivered to the underwriters by issuer's and underwriters' counsel in...
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Produced in partnership with Charles Farnsworth of Baker McKenzie and Adam Farlow of Baker McKenzie 12th Jan
Practice notes
Summary of advantages and disadvantages of the floating chargeThis Practice Note discusses the advantages and disadvantages of taking a floating as...
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9th Nov
Practice notes
The majority of secondary debt trades are conducted by telephone or by email. Following the trade call or email exchange, the parties will document...
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9th Nov
Practice notes
What is a borrowing base facility?Borrowing base facilities ('BB Facilities') are a type of trade finance. They are working capital credit facilities...
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Produced in partnership with Dentons UK and Middle East LLP 12th Jan
Practice notes
This Practice Note considers the main terms included in standard form shipbuilding contracts. In particular, it looks at:•standard forms of the...
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9th Nov
Precedents
[insert date]To:[insert full name and address of lender]Dear [insert full name of lender]I am a director of [insert full name of borrower] (the...
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9th Nov
Practice notes
Coronavirus (COVID-19): This Practice Note contains information on subjects potentially impacted by the government and regulators' responses to the...
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9th Nov
Practice notes
Commodity repurchases (repos) are a common alternative method of financing. There are a number of advantages for both the financier and a commercial...
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Produced in partnership with Sullivan 12th Jan
Practice notes
Shares are commonly offered as security for a loan in commercial lending transactions.Practice Note: Taking security over shares explains how to take...
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9th Nov

Most recent LIBOR and benchmarks content

Practice notes
This Practice Note provides:•information on the background to the transition away from London Interbank Offered Rate (LIBOR) and other Interbank...
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9th Apr
Practice notes
This Practice Note provides focused information on legislative solutions put forward in the US, UK and EU for addressing the issue of tough legacy...
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8th Apr
Practice notes
This Practice Note:•explains what LIBOR is•provides a brief summary of the developments affecting LIBOR over the last few years and the proposed...
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8th Apr
Practice notes
In summary, a market disruption clause sets out how interest is calculated for a loan if a lender’s cost of funding the loan is in excess of London...
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8th Apr
Practice notes
This Practice Note explains the Loan Market Association (LMA)’s approach to the calculation of interest in its (LIBOR based) facility documentation....
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8th Apr
Practice notes
This Practice Note aims to assist practitioners with understanding the key issues to be aware of when drafting or amending a facility agreement to be...
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8th Apr
Practice notes
STOP PRESS: LIBOR is being phased out and replaced with risk-free rates such as SONIA and SOFR. This Practice Note is being reviewed in light of the...
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8th Apr
Practice notes
On 23 October 2020, the International Swaps and Derivatives Association (ISDA) published two important documents that give swap and other market...
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Produced in partnership with Carolyn Jackson and Guy Dempsey of Katten Muchin Rosenman LLP 8th Apr
Practice notes
This Practice Note compares the conventions used in the loan and swap markets for sterling, US dollar, Euro and Swiss franc interest rate benchmarks...
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8th Apr
Practice notes
This Practice Note provides a starting point to assist firms with planning and implementing a London Interbank Offered Rate (LIBOR) transition...
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Produced in partnership with Becky Critchley of Latham & Watkins and Anna Lewis-Martinez of Latham & Watkins 8th Apr
Practice notes
This Practice Note is intended as an introductory guide to LIBOR transition. It aims to answer some of the most frequently asked questions on LIBOR...
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8th Apr
Q&As
What is the background to benchmark reform?Proposals for benchmark reform in the UK, European Union (EU) and elsewhere were triggered by the LIBOR...
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8th Apr
Q&As
We are constantly reviewing and adding to our content as a result of market practice and customer feedback. We do not have any content on the impact...
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8th Apr
Practice notes
IntroductionPrior to September 2008, numerous small and medium-sized enterprises (SMEs) entered into interest rate hedging products (IRHPs) to support...
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Produced in partnership with Matthew Shankland and Sarah Lainchbury of Sidley Austin LLP 8th Apr
Practice notes
BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...
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8th Apr
Practice notes
This Quick Look Brexit Financial Services Legislation Status Guide provides high level information on the status of Regulation (EU) 2016/1011 (OJ L...
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8th Apr
Practice notes
BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...
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8th Apr
Practice notes
Background to the regulated activities relating to benchmarksThe London Inter-Bank Offered Rate (LIBOR) is a global benchmark for short term interest...
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8th Apr
Practice notes
This quick guide details UK legislation and retained EU legislation that has been amended and/or revoked by the Benchmarks (Amendment and Transitional...
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8th Apr
Practice notes
BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the...
Read More >
8th Apr

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