Last week the LSTA hosted its Demystifying the LSTA’s SOFR Credit Agreement webcast presented by Jeffrey Nagle of Cadwalader, Wickersham & Taft LLP, the LSTA’s project counsel, and the LSTA’s Tess Virmani.
The syndicated loan market would really like an IOSCO-compliant Forward Looking Term SOFR to develop. If such a rate developed, it would solve several problems inherent in SOFR.
Demystifying the LSTA’s SOFR Concept Credit Agreement Webcast Replay. This replay will be available until December 3, 2020.
What is a “concept credit agreement”? Why is the LSTA developing one? What is that math formula? Find out all you need to know about the draft compounded SOFR in arrears credit agreement. This presentation will done for our members on Tuesday, December 3rd by Jeffrey Nagle, Partner and Cadwalader, Wickersham & Taft and Tess […]
This week we recap our latest LIBOR webcast, tell you about our new weekly LIBOR Q&A call, recap this week’s visit to Tel Aviv, and kindly remind you to treat Thanksgiving as a loan market holiday. Hope you have a crazy pre-Thanksgiving weekend.
This week, we start off with a SOFR loan spotting (yes, Virginia, there is a SOFR loan!). We move on to another rising loan type: Sustainability linked loans – what they are, how they are measured and how their volumes are changing. We also dip into the markets, checking in on how loan terms and […]
According to CME, there have been over $300 billion of SOFR floating rate issuances through October 2019. While material, that’s kind of old news. The new news? That SOFR bilateral loans are beginning to appear publicly.
There has been considerable discussion about the variants of SOFR on these pages (and at the LSTA Conference last week in the Introduction to LIBOR Cessation and SOFR Operationalization panels). Specifically we’ve discussed the pros and cons of SOFR Compounded in Advance and Forward Looking Term SOFR
SOFR tools are coming! On November 4th, the FRBNY released a request for public comment on an official “SOFR Compound Average” and a “SOFR Index”. Below, we describe these tools, their use cases and several questions from the consultation. The LSTA is considering responding.
This week, we start off in the markets discussing trade volumes (sitting around $53 billion in September) and trade prices (despite recent coverage, median trade prices were still slightly above 99). We then move to LIBOR. Everyone knows LIBOR is going away – but how do we make SOFR, the likely replacement rate, work for […]
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