Client Alert

Life After LIBOR

13 Dec 2017

After a long and at times scandalous life, LIBOR is retiring. Earlier this year, Andrew Bailey, chief executive officer of the United Kingdom’s Financial Conduct Authority, the regulator of the London Interbank Offered Rate (LIBOR), announced that the interest rate benchmark founded in the 1980s would be phased out by the end of 2021. This Client Alert briefly sets out the background that led to this decision, and how this decision has impacted syndicated credit agreements.

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