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Borrowers making the jump to SOFR before year-end are being offered more favorable spread adjustments

Over-reliance on fallbacks could lead to failures at year-end

Lack of readiness for compounded rates could sweep repacks onto synthetic Libor, creating swaps mismatch

Risk.net Corporates remain on swaps fallback sidelines Risk.net analysis finds just 14 out of 100 large non-financial firms have signed up to Isda fallback protocol Print this page   Non-financial corporates have been slow to sign up to a Libor fallback protocol devised by the International Swaps and Derivatives Association, with just 14 out of 100 of the largest listed companies adopting the standard language to future-proof swaps contracts, according to research by Risk.net.  The analysis was conducted across the top 25 non-financial constituents by market capitalisation in f...

Risk.net Nearly two-thirds of CRE securitisations issued since 2019 have already triggered fallback clauses Print this page   Dozens of commercial real estate (CRE) securitisations will transition away from US dollar Libor in the coming weeks, more than two years ahead of schedule, after botched legal language was inserted into the deals. At current rates, the early changeover will hit equity investors, who take the first loss in securitised products. The problem is thought to affect nearly two-thirds of CRE collateralised loan obligations (CLOs) issued since 2019. A total of 54 ...