Associated British Ports first bond issuer to try switching existing bond to Sonia

Associated British Ports is planning to become the first bond issuer to solicit the consent of bondholders to change the terms, so that the coupon switches from Libor to Sonia.

  • By Alex Radford
  • 22 May 2019
The UK port operator said on Monday it would hold a meeting in June for holders of its £65m 2022 floating rate notes, to ask them to agree to change the coupons to be linked to the Sterling Overnight Index Average. The Bank of England wants Sonia to ...

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