The export finance market poses some unique challenges in respect of the LIBOR transition process. Key to the transition in this market is the engagement and perspective of the export credit agencies.

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On 28 May 2021, we published a further suite of documentation to facilitate the syndicated loan market in transitioning away from the use of LIBOR to compounded risk-free rates ("RFRs"). We published new Developing Markets and Investment Grade documentation based on compounded RFRs from the outset. We also updated our existing RFR documentation, and some of our investment grade 'Mandate and Syndication' documentation. In addition, we published an RFR drafting guide for our wider documentation suite.