Now is the time for lenders and borrowers to focus on LIBOR transition. Based on KWM’s extensive experience in representing APLMA, major banks and corporates (including international and PRC-based) on their LIBOR transition projects, below are our answers to some frequently asked questions about USD LIBOR and Secured Overnight Financing Rate (SOFR) loans.
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LIBOR
LIBOR转换方案和美元SOFR贷款—常见问题解答
By King & Wood Mallesons on
Posted in Banking & Finance
现在是贷款人及借款人关注LIBOR转换方案的时候了。金杜律师事务所经常为亚太区贷款市场公会（APLMA）、中资及国际大型银行以及跨国企业提供LIBOR 转换方面的法律服务，特此为您准备以下关于美元LIBOR和有担保隔夜融资利率（SOFR）贷款的常见问题解答。…
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从LIBOR到RFRs ——浅议基准利率变更对贷款市场的影响及应对
By King & Wood Mallesons on
Posted in Securities & Capital Markets
LIBOR的全称是London Inter-bank Offered Rate，自1986年创立以来，LIBOR作为基准利率一直是全球债务金融市场最为重要的基准数据，被广泛用于贷款、债券、衍生品等各类离岸美元金融产品中。然而自2012年6月开始的“LIBOR操纵案”被曝光以来，人们开始意识到在LIBOR形成的机制中，人为操纵的空间几乎是不可消除的。虽然监管层立即提出了改革措施并加强了监管，但鉴于LIBOR底层机制的缺陷，更加客观和准确的无风险利率（Risk Free Rate，简称RFR）的开发被提上了日程。…
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