SOFR and SONIA may be the anointed replacements for LIBOR…but how do you actually make a SOFR loan work? As an ARRC member and Co-chair of the ARRC’s Business Loans Working Group, the LSTA has been in the weeds on this issue. Step One: Develop workable recommended LIBOR fallback language for syndicated loans (coming soon!). Step Two: Help lenders and vendors operationalize SOFR within loan systems.
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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.