Lenders Sending LIBOR Credit Facilities Notices Soon
Thursday, February 11, 2021 If you have a credit facility based on the London Interbank Offered Rate (LIBOR), you may soon get a notice from your lender or the administrative agent on your credit facility saying that a “Benchmark Transition Event” has occurred. Here is what you need to know about what that notice really means. ICE Benchmark Administration Announcement On November 30, 2020, LIBOR’s administrator, the ICE Benchmark Administration (IBA), announced that it would consult on ceasing to determine one-week and two-month USD and all GBP, EUR, CHF and JPY LIBOR setting...
Source: natlawreview.com