NatWest writes to thousands of corporates about Libor shift

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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