Alerts Archive

  • 28 May 2021
    LMA publishes further RFR documentation to assist the market with LIBOR transition

    The LMA is pleased to have 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").


  • 30 March 2021
    LMA updates exposure draft RFR documentation to recommended forms and publishes single currency RFR facilities agreements

    The LMA is pleased to have published its exposure draft RFR documentation as recommended forms. The documentation has also been updated to reflect, amongst other things, the recent updates to the £RFR Working Group's conventions supporting materials. The LMA has also published two new recommended form single currency RFR facilities agreements and updated the RFR Terms and notes outlining LIBOR transition considerations for the LMA's wider suite of documentation.

  • 26 March 2021
    LMA publishes considerations note in respect of the use of forward-looking term SONIA reference rates

    The LMA is pleased to announce the publication of a note outlining considerations for market participants relating to the use of forward-looking term SONIA reference rates ("TSRRs").

  • 03 February 2021
    LMA publishes notes outlining LIBOR transition considerations for LMA's wider suite of documentation

    The LMA is pleased to announce the publication of a number of notes which outline, at a high level, considerations for market participants relating to the impact of LIBOR transition on LMA documentation outside of the context of English law investment grade documentation.

  • 28 January 2021
    LMA publishes exposure draft documentation for multicurrency compounded rate/interbank term rate facilities

    The LMA is pleased to announce the publication of two exposure draft multicurrency term and revolving facilities agreements incorporating backward-looking compounded rates and forward looking interbank term rates (the "Multicurrency Compounded Rate/Term Rate Facilities Agreements") accompanied by a term sheet and a commentary.

  • 23 November 2020
    LMA publishes new and updated documentation in respect of LIBOR transition and active transition mechanisms

    The LMA is pleased to announce the publication of several documents to further assist market participants when including active transition mechanisms in their loan documentation for LIBOR transition.

  • 21 October 2020
    LMA note on "LMA Revised Replacement of Screen Rate Clause and pre-cessation trigger"

    This note is intended to highlight to market participants points to consider relating to inclusion, in the LMA's Revised Replacement of Screen Rate Clause, of a specific pre-cessation trigger relating to a benchmark rate no longer being representative.

  • 11 September 2020
    LMA publishes exposure draft multicurrency rate switch facility agreement

    The LMA is pleased to announce the publication of an exposure draft multicurrency term and revolving facilities agreement incorporating rate switch provisions ("Multicurrency Rate Switch Facility Agreement"). This exposure draft is based on lookback without observation shift.

  • 24 August 2020
    LMA Note on the Revised Replacement of Screen Rate Clause and documentary recommendations published by the Working Group on Sterling Risk-Free Reference Rates

    This note discusses the April and July 2020 documentary recommendations and contains a supplement to the LMA's Revised Replacement of Screen Rate Clause designed to facilitate one means of potential satisfaction of the recommendations.

  • 20 February 2020
    LMA note on "LMA Exposure Drafts of Compounded RFR Facilities Agreement – outstanding requirements for the production of LMA recommended forms"

    This note is intended to highlight to market participants the outstanding requirements that need to be satisfied before the Exposure Drafts can be published as LMA recommended form documentation.