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Clifford Chance

Clifford Chance


LIBOR and the Syndicated Loans Market - Milestones and Documentation

17 September 2020

In the UK, regulators and the Working Group on Sterling Risk-Free Reference Rates (£RFR Working Group) have long been urging loan market participants to transition away from using LIBOR on transactions. Whilst, to date, such transition has been challenging for the loan markets, recent publications such as conventions for the use of SONIA and the LMA documentation discussed below, will help generate impetus for transition.

In this briefing, we look at these publications and considerations for the loan markets in structuring transactions based on risk-free reference rates.

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