In May 2022 we reported that where Term SOFR was being used widely in U.S. loans; its use in other markets was more limited. Six months on, how has the picture changed?...more
How is the loan market reacting to the economic environment, and how should borrowers respond?
...more
Term SOFR, the forward-looking term rate based on the Secured Overnight Financing Rate (SOFR), has become an established benchmark rate for new US Dollar lending in the US syndicated loan market....more
In the race to remediate, the moment has come for lenders to lighten up on corporate authorisations and legal opinions....more
As regulators, shareholders, investors and wider society increasingly focus their attention on ESG matters, they have crept up the boardroom agenda of large companies and financial institutions and are now firmly in the...more
On 27 June, the UK Financial Conduct Authority (FCA) published a policy statement setting out the final form of its proposed ban on right of first refusal and right to act provisions relating to the supply of certain future...more