July 16, 2018 - Work on LIBOR and its potential successors may look like a duck in a pond. A casual observer does not see much action, but underneath the surface there is a flurry of activity. Now, the official sector is beginning to unveil the work going on.
To that end, on Thursday, July 19th, the Alternative Reference Rates Committee (ARRC) is hosting a public roundtable and webcast to report on its progress thus far on LIBOR transition; it also will announce the beginning of its public consultation process. Importantly, this is not simply a discussion about derivatives. There will be panels discussing developments on contract language in floating rate notes, syndicated loans (coordinated by the LSTA) and securitizations. Additional discussions will cover the ARRC’s Guiding Principles on LIBOR fallbacks and ISDA’s recently released consultation on Benchmark Fallbacks. Sadly, the live Roundtable itself already is sold out, but there also will be a concurrent streaming webcast.
The LSTA is a member of the ARRC and co-chairs the ARRC business loans and CLOs working group. For further information, you can find our Syndicated Loans and LIBOR FAQs on the LSTA website.