ICMSA Publication


ICMSA Bulletin 210118/54 – The discontinuation of LIBOR/IBORS – implications for English-law note trustees and agency roles – Update – Legacy Transactions

This Bulletin examines the current state of progress on the active transition of legacy LIBOR transactions and considers some of the challenges that lie ahead for the market. This Bulletin also explains that active transition should be an issuer driven process and that in observing existing contractual arrangements trustees and agents will generally not be in a position to remediate legacy transactions or simplify the procedure for initiating the transition process.

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