Santander considers switch to Sonia for Holmes deals

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By Tom Brown
03 Sep 2019

Santander has announced that it is considering transitioning some Libor-linked notes issued by its Holmes Master Issuer programme to the Sonia benchmark.

The bank said that NatWest Markets is “assisting with this exercise”, alongside Santander Corporate & Investment Bank, to find a solution acceptable to noteholders.

The Financial Conduct Authority (FCA) said it will no longer compel banks to submit rates for the calculation of Libor after 2021. It ...

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