Clifford Chance

LIBOR and Operating Leases

13 June 2018

The reform of LIBOR and other global benchmark rates used in loans and other financial instruments continues, although a common alternative reference rate ("ARR") acceptable to banks, hedging counterparties, investors and borrowers is yet to emerge. This briefing specifically considers the impact of the potential discontinuation and replacement of LIBOR on aircraft operating leases and suggests next steps for lessors and lenders.

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