NatWest writes to thousands of corporates about Libor shift

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By Mike Turner
07 Oct 2020

NatWest plans to contact around 3,500 of its corporate clients from Thursday to inform them about the end of Libor as a benchmark and what their options and next steps are, as a recent survey showed that the vast majority of companies have not made any tangible efforts towards moving debt facilities to risk-free rates.

NatWest is contacting corporates with £6.5m in turnover and upwards. 

The 12 page letter, seen by GlobalCaptial, explains what Libor is, why it is being discarded, what risk-free rates are and how they might effect a corporate’s debt facilities. 

The letter says that there is no immediate action needed, “however,” ...

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