In September 2020, GlaxoSmithKline plc ("GSK") announced that it had signed new US$2.5bn 364-day and £1.9bn three-year SOFR and SONIA linked RCFs. The facilities were provided by a total of 12 banks on a bilateral basis (with HSBC acting as risk-free rate coordinator). In this spotlight interview, Kam Mahil speaks to those involved in the deal.
The clock is ticking and, as we progress through the final year of LIBOR, key milestones to cease LIBOR lending are rapidly approaching. Regulators across the globe have reiterated that firms cannot rely on LIBOR being published after the end of 2021. They also cannot rely on legislation to solve the transition for them. This live webinar, presented by Kam Mahil and Keith Taylor of the LMA, will provide an update on transition since the previous webinar in September 2020.
Our webinar entitled "Loan market review of the year and key drivers for 2021", which was streamed live on 3 December to over a 1,000 viewers, is now available on demand. It covers, amongst other things: Economic outlook; Review of loan market volumes and structures; Risks and opportunities impacting the loan market in 2021; Changing investor appetite and new sources of liquidity; and Impact of Brexit and Covid-19.
Watch the latest webinars, snapshot interviews and recordings from key events.
E-learning course comprised of 10 modules providing an overview of the syndicated loan market.
The LMA has become aware of unauthorised activity on an archived copy of its website, which it is in the process of investigating. We understand that names and email addresses of members have been accessed, but not passwords which were protected by encryption, or any other personal data.
As a precautionary measure, we would advise that members change their LMA password and passwords on any sites where they use the same password as for their members' LMA log-in. You can change your password under your "Personnel Profile" in the top RHS of the website when you login.
The wellbeing of our members is a fundamental priority for us at the LMA and, in light of developments in relation to Coronavirus (Covid-19), we will be postponing all LMA events until the end of February 2021, with March 2021 onwards under review.
We will be reviewing the situation on an ongoing basis and will endeavour to give members as much notice as possible when events are postponed.
We would like to thank you for your understanding in relation to this matter and your continuing support of LMA activities.