Concept Credit Agreement DSS (Aug 3 2023)
Attached is the Daily Simple/SOFR/DCS “Compound the Balance” Concept Documents. The blackline, against the document dated February 27, 2023, is attached below as well (it…
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Daily Simple SOFR Amendment Form (Benchmark Replacement Amendment) (Oct 2022)
This is an integrated form for usage with ARRC-style amendment approach provisions. It both selects the replacement rate of Adjusted Term SOFR (for an amendment…
Daily Simple SOFR Benchmark Replacement Conforming Changes (Oct 2022)
The Conforming Changes Cover Amendment is a cover faceplate applicable to implement Benchmark Replacement Conforming Changes unilaterally (without borrower or lender affirmative consent) and is…
Term SOFR Conventions: (Almost) Just Like LIBOR
By Meredith Coffey. On July 21, the ARRC released recommended conventions for forward looking Term SOFR (and SOFR Averages in Advance) for syndicated and bilateral…
Term SOFR: Loans, CLOs in Scope!
By Meredith Coffey. This morning, the ARRC released best practice recommendations for the use of a SOFR Term Rate.
SOFR Spotting
We knew it was coming, but it is finally happening. On Friday, Refinitiv reported that Ford was looking to refinance $15.4 billion in syndicated facilities…
Publication of Simple RFR Multicurrency Concept Document
Today the LSTA published its Simple RFR Multicurrency Concept Document. This concept document was developed, in collaboration with the LSTA’s Primary Market Committee, as a…
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