The replacement of LIBOR as the base rate in the syndicated loan market creates a number of challenges in relation to credit agreements. While some newer agreements include language regarding the planned IBOR changes, there are many (particularly older agreements) that do not. The gaps in these agreements will cause uncertainty for a wide range of functions, including those with responsibility for portfolio optimization, investor relations, tracking accruals and trading strategies.
To help market participants manage the IBOR transition confidently, we are providing LIBOR Replacement Data that addresses rate information in credit agreements. Our dedicated experts are scrubbing credit agreements that exist in our global loans database and identifying the new data fields that will be needed to negotiate the shift away from LIBOR. These fields will be provided as a specific LIBOR Replacement Data offering.
Breadth and depth
Our LIBOR Replacement Data offering leverages the deep subject matter expertise of our Loan Reference Data team. It captures elements pertaining to LIBOR replacement, including LIBOR fallback language, across more than 8,000 active facilities with validated credit agreement data.
As pressure from institutional investors continues to grow, the LIBOR Replacement Data service will give loan investors the transparency they need to understand how the planned changes to LIBOR will impact their holdings.
Developed in conjunction with a design partner, LIBOR Replacement Data is a best-in-class, innovative offering culled from credit agreements. The service output has been validated by both loan managers and end investors.
With LIBOR Replacement Data, we are working in partnership with our customers to help them stay ahead of major changes taking place in the loan market.