- One step closer to global benchmark reform
- Original news
- Why did ABP request the switch from LIBOR to SONIA?
- What were the biggest issues and hurdles involved in getting agreement to, and then implementing, the transition?
- Do you think this is the start of a wave of similar transactions?
- What do you see as the main obstacles to transition to SONIA in the sterling bond market?
Banking & Finance analysis: Arjun Muddu, capital markets counsel at Linklaters, advising Associated British Ports (ABP), hopes that this transaction shows issuers and investors and other market participants that a mechanism can be found to transition securities from the London Interbank Offered Rate (LIBOR) to the Sterling Overnight Interbank Average Rate (SONIA).
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