Guinness Partnership picks Sonia as Libor exit speeds up

House_AdobeStock_575x375_19Jan21
By Mike Turner
01 Apr 2021

The Guinness Partnership, a UK affordable housing company, has signed a £150m revolving credit facility linked to Sonia from day one, as loan market participants say momentum is growing to leave Libor behind before the end of year deadline.

Guinness’s five year facility has two one year extension options. It was coordinated by Lloyds Bank, and is the first Sonia facility the housing company has signed.

The transition from Libor has become more focused than ever since the UK’s Financial Conduct Authority in March set December 31 ...

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