Tag: LIBOR replacement

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LSTA Statement on LIBOR Replacement

March 27, 2018

Last July, Andrew Bailey, Chief Executive of the UK based Financial Conduct Authority, made a now famous speech where he signaled the potential cessation of LIBOR as early as the end of 2021. While it is not completely clear at this time that the continued quoting of LIBOR as a benchmark rate will actually end or be significantly curtailed we must prepare for that eventuality.

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LSTA Newsletter: December 6, 2019

December 6, 2019

This week, we revise our LIBOR deadline from 12/31/21 to 3Q20. (Well, technically, that was the FCA…and just for Stg LIBOR.) We review the secondary trading market in October (and hint toward November) and recap the latest on ESG and ratings. Finally, we remind you that we are now offering members a weekly LIBOR Q&A […]

Sustainability-Linked Loans: Financing the Green Transition

December 5, 2019

This practice note provides an overview of sustainability-linked loans (SLL). Sustainability-themed debt instruments represent one response of the financial community to the need to channel capital towards facilitating a carbon transition. A Lexis Practice Advisor Practice Note by Amara Gossin, Barclays and Robert Lewis, Sidley Austin

ESG and Cyber in Credit Ratings Presentation

December 4, 2019

The focus on environmental, social, and governance (ESG) issues is intensifying across financial markets – the loan market included. This presentation was done by Jim Hempstead, Managing Director, Global Project & Infrastructure Finance and Brendan Sheehan, VP-Senior Analyst-Environmental, Social & Governance both from Moody’s Investor Service.

Secondary Trading & Settlement Monthly: October Executive Summary

December 4, 2019

November was a solid month in the secondary loan market, with S&P/LSTA Leveraged Loan Index (LLI) returning 0.59%. October, however, was a different story. Secondary loan trading volume spiked 19% in October to a six-month high of $64 billion. This followed a two-month stretch where volumes fell below $60 billion per month.

Credit Ratings and ESG (Part 1)

December 4, 2019

As 2019 comes to a close, the rise of environmental, social and governance (ESG) significance in financial markets has been undeniable. In Europe, this trend is quite established, but over the last two years it has jumped the pond and there is now significant ESG interest by U.S. investors.