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Finance executives also need to deal with existing contracts that cite Libor. That can be tricky especially in cases where some of these debt instruments are held by hundreds of investors who all need to agree to the changes. Transaction lawyers suggest that finance chiefs create an inventory of agreements that reference Libor, and take a look at when they run out and who the other party is. The cut-off date for existing contracts to stop referencing Libor is June 30, 2023.
“The issue for treasurers and CFOs is managing the transition across the whole company,” said Michele Navazio, a partner at law firm Seward & Kissel LLP. “It is not going to happen simultaneously, which could add to the complications.” ....

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