Forward-looking term rates are needed for syndicated and bilateral corporate loans, as well as in the CLO and leveraged loans markets.
July 31, 2021Market observers reported a sharp increase in SOFR swaps transacted, a trend said to be "clear and pronounced".
July 29, 2021From 21 September, interdealer trading in cross-currency basis swaps between USD, JPY, GBP and CHF would reference each currency's RFR.
July 23, 2021SOFR First has four phases, starting with the adoption of SOFR instead of LIBOR as the default rate for USD linear swaps from 26 July 2021.
July 18, 2021SOFR is expected to be the most widely accepted benchmark rate used to replace LIBOR and MIFOR in India.
July 17, 2021FIs are asked to instead use 'any widely accepted ARR'. Currently, there is no consensus on a new ARR for India. SOFR is widely expected to be accepted.
July 11, 2021The FCA and BOE encourage liquidity providers to change USD linear swap trading conventions from USD LIBOR to SOFR on 26 July 2021.
June 18, 2021The ARRC said the change, proposed for 26 July, will allow it to formally recommend forward-looking SOFR term rates published by CME Group.
June 9, 2021Guidance was issued on the terms that should be included in new and old contracts referencing USD LIBOR as well as in new contracts referencing SOFR.
June 3, 2021The bond issuance included a $300mn floating-rate bond tranche maturing in five years that was priced at a 52 basis point spread over SOFR.
May 28, 2021