November 1, 2019 - The LSTA is very engaged in LIBOR transition, including participating in the Alternative Reference Rates Committee (ARRC), co-chairing the ARRC Business Loans Working Group and its Operations Sub-Group. We also are committed to keeping our members updated on LIBOR transition and believe the LSTA LIBOR Migration Magazine (available here) is a helpful tool to do so. The current magazine includes a general update on LIBOR transition, an explanation of the variants of SOFR (and how to operationalize them), an explanation of fallback language and the LSTA’s Draft “SOFR Compounded in Arrears” Concept Document, a comparison of loan and CLO fallback language and an update on tax and accounting guidance – all from the perspective of the loan market. If you have questions on LIBOR cessation, please reach out to mcoffey@lsta.org (for policy, markets and general perspective), tvirmani@lsta.org (for legal and documentation issues), ehefferan@lsta.org (for operations issues) or pblack@lsta.org (for accounting or tax perspectives). We hope you find this document useful!