Only 18 loans have swapped Libor for RFRs, data shows

By Mike Turner
26 Oct 2020

European syndicated loan bankers are confident that the market is heading towards a tipping point in its transition from Libor, despite new data showing just 18 publicly announced deals in markets that use Libor have signed or been amended to reference risk-free rates.

The Bank of England will stop supporting Libor at the end of 2021. Despite this, convincing issuers to sign loans with a margin linked to risk-free rates rather than the scandal-hit benchmark has proven a slog.

“We’re having more and more constructive discussions with clients,” said one head of ...

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