Haynes Boone invites you to join a panel discussion about the scheduled phase-out of London Interbank Offered Rate (LIBOR) and industry efforts to manage the transition to new alternative reference rates.
The panelists – Partners Brian Sung and Holly Loftis and Counsel Jennifer Passagne – will address alternative rates provisions recommended by the Federal Reserve Bank of New York and the Alternative Reference Rates Committee, the UK Financial Conduct Authority and the Bank of England, and the steps that lenders and finance counsel should take to prepare for the transition and amend existing transaction documents and structure new transactions as well as other guidance and reference materials, including those published by the Loan Syndications and Trading Association and the Loan Market Association.
Moderated by Haynes Boone Partner Neal Kaminsky, the panel will also discuss the impact on swaps and other derivatives and evaluate alternative rate language and fallbacks being used in ISDA documents.
Presentation topics will include:
- The timeline for LIBOR's phase-out
- Alternative rate or fallback language contained in existing financing documents, and issues raised by the coming transition and phase-out
- Guidance issued for financial institutions and other market participants to date
- An overview of SOFR, SONIA and other alternative rate options (including BSBY, Ameribor and Prime) and comparisons to LIBORSuggested approaches for transitioning legacy positions and amending existing documents, and related risks and hurdles
- Overview of key areas of borrower concern in connection with the rate transition
Panelists:
- Holly Loftis, Jennifer Passagne, Brian Sung
Moderator:
- Neal Kaminsky
CLE
Texas: This course has been approved for Minimum Continuing Legal Education credit by the State Bar of Texas Committee on MCLE in the amount of 1.0 credit hour.
New York: This transitional program has been approved in accordance with the requirements of the New York State CLE Board for a maximum of 1.0 credit hour, of which 1.0 credit hour can be applied toward the Areas of Professional Practice requirement.
California: This activity is approved for MCLE credit by the State Bar of California in the amount of 1.0 credit hour.
Illinois: This activity is approved for MCLE credit with the MCLE Board of the Supreme Court of Illinois in the amount of 1.0 credit hour.
Colorado: An application for this program is pending.
