Clifford Chance

LIBOR transitioning - navigating the impact for trustees in the capital markets

3 March 2020

Corporate trustees ("trustees") for notes that mature after the end of 2021 should brace themselves for LIBOR being phased out. While trustees have been closely monitoring benchmark replacement terms since the FCA signalled that it would no longer compel banks to submit LIBOR submissions, LIBOR transitioning will increase as 2021 draws closer and trustees will need to be prepared for the impact on their role.

This briefing considers the impact of LIBOR transitioning for trustees. 

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