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LSTA reports on the end of USD panel LIBOR rates publication

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Published on: 30 June 2023

Published by LNB News

LNB News 30/06/2023

Document Information

Issue Date: 30 June 2023

Published Date: 30 June 2023

Jurisdiction(s): United Kingdom

Article summary

The Loan Syndications and Trading Association (LSTA) has overseen a complex transition from London Interbank Offered Rate (LIBOR) to the secured overnight financing rate (SOFR) over six years. Despite the challenges, the transition has been largely successful, with over 60% of outstanding institutional loans transitioning from LIBOR to SOFR. However, some loans will remain on LIBOR in the coming months due to their existing LIBOR interest periods. Additionally, 'synthetic' USD LIBOR will continue until 30 September 2024 to allow for the transition of certain legacy contracts.

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