LSTA Newsletter (Dec 8 2023)
This week we cover November MTM Monthly; ARRC Goes Dark; Webinar Highlights.
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The End of the ARRC
The End of the ARRC! If the quasi-public sector body has wound itself down, that’s a good sign that we’re done with LIBOR transition.
Hot Topics in LIBOR: Remediation Survey
With less than 15% of outstanding US leveraged loans on SOFR, LIBOR remediation is moving more slowly than most folks would like. The LSTA’s Meredith…
The Full Term SOFR
Last week, the ARRC endorsed the use of CME Group’s forward-looking 12-month Term SOFR.
Playing SOFR-doku
This week, we saw ARRC exhortations to move off LIBOR, more SOFR loans emerge and extensive price discovery around the SOFR credit spread adjustment (“CSA”).
LIBOR: October (Non) Surprise
By Meredith Coffey. We heard that October would be a pivotal month in LIBOR transition – and we weren’t wrong.
SOFR Spread Solutions: The Price of Imperfection
By Meredith Coffey. As we discussed in the recent “LSTA SOFR Spread Think Piece” and “LIBOR-SOFR Spread Adjustment” podcast, the historical (and likely future) difference…
LSTA Publishes Term SOFR Concept Document
The LSTA has now published its Term SOFR Concept Document – the latest addition to its SOFR Document Library.
Term SOFR: Formally Recommended!
By Meredith Coffey. It’s official! Today the ARRC formally recommended CME Group's forward looking Secured Overnight Financing Rate (SOFR) term rates (SOFR Term Rates), following…
LSTA Applauds ARRC Formal Recommendation of Use of CME Term SOFR Rates
The Loan Syndications and Trading Association (“LSTA”), the trade association for the corporate loan market in the United States, today issued the following statement regarding…
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