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LIBOR Transition

Action Required

1 June 2020

LIBOR is going to disappear.

As for the USD LIBOR rate, it is expected that as per the end of 2021, it will cease to be available.  Given the important role of LIBOR in financial transactions globally, one would expect its replacement to be a smooth process.

Unfortunately, this is not the case. 

In this briefing, we provide a short overview of:

  • the replacement rate 
  • the impact of the replacement on existing transactions
  • the status of ongoing discussions amongst interested stakeholders
  • the actions that will need top be taken now to prepare for the replacement

These topics are relevant for each transaction in which USD LIBOR plays a role:  loans, bonds, derivatives, but also terms of business that refer to USD LIBOR, for example in connection with late payments. 

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LIBOR Transition - action required
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Authors

Portrait ofPieter van Welzen
Pieter van Welzen
Senior Consultant
Johannesburg