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What are the principal features of the draft facilities agreements based on compounded SONIA and SOFR published by the LMA?

What are the principal features of the draft facilities agreements based on compounded SONIA and SOFR published by the LMA?
Published on: 25 September 2019
Published by: LexisPSL
  • What are the principal features of the draft facilities agreements based on compounded SONIA and SOFR published by the LMA?
  • What have the LMA published and why?
  • What are the principal features of the Exposure Drafts?
  • How do the interest provisions differ from those in the existing LMA standard form facilities agreements?
  • Construction of the interest rate benchmark
  • Period over which the interest rate benchmark is constructed to ensure advance notice of payment
  • Constituent elements of the interest rate calculation
  • Fallback provisions
  • Role of break costs and assumed funding practice
  • Role of market disruption provisions
  • More...

Article summary

Banking & Finance analysis: The Loan Market Association (LMA) has published draft facilities agreements based on compounded SONIA and compounded SOFR. This News Analysis looks at the background to the publication of the documents and provides an overview of the draft provisions and issues raised. or take a trial to read the full analysis.

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