LIBORcast Dechert LLP

While the ARRC’s December 2021 deadline for no new LIBOR has come and gone, several market participants are still making new LIBOR contracts. The market is also adjusting to the expectation of rising interest rates in the near future. How is this all of this impacting interest rate caps and swaps, and what is the way forward? In this episode, Dechert's Christopher Desmond and Jonathan Gaynor welcome back Chatham Financial's Rob Mangrelli and Matt Hoffman to discuss these developments, including the status of SOFR interest rate caps.

Where does the LIBOR transition currently stand and what can we expect in 2022? In this 18th episode, Dechert’s Christopher Desmond and Jonathan Gaynor pose these questions to Oliver Wyman’s Adam Schneider. Our speakers also discuss the use and viability of alternative rates to LIBOR available today, proposed legislative solutions for legacy contracts and more.

What should securitization trustees be concerned about regarding the LIBOR transition? In this episode, Dechert’s Matthew Hays and Wells Fargo Senior Company Counsel Mike Johnson discuss how issuers, investors and servicers can prepare for the transition as well as whether trust instruction proceedings (TIPs) may be used in connection with LIBOR language or whether legislative solutions will address discretion and ambiguity in documents.

Loan market products are widely viewed as presenting some of the more complex issues to be addressed in order to achieve a successful transition away from LIBOR. In this 16th episode, Kam Mahil of the Loan Market Association (LMA) discusses aspects of LIBOR transition relevant to the international loan markets with Dechert's Sarah Smith and Karen Stretch. The session offers a wide-ranging discussion of the LMA’s work in the area and much more, including insights into the hot topics of term rates and credit sensitive rates, as well as a look at the road ahead.

Will borrowers accept SOFR? In the 15th episode of our LIBORcast series, Dechert’s Matthew Hays and guests from multifamily market leader Freddie Mac discuss the latest on SOFR and the broader LIBOR transition from a legal, origination, servicing and investing perspective, including Freddie Mac’s background in originating SOFR loans and securitizing them with SOFR-based bonds. Other topics include operational and outreach challenges, market preparedness, credit-sensitive rates, the availability of LIBOR caps and more.

What impact have the March 2021 ICE Benchmark Administration (IBA) announcements had on LIBOR transition efforts? In this episode, Dechert’s Matthew Hays and KKR’s Tal Reback discuss where preparations for the transition stand today as well as the impact of a multi-rate environment, whether the market should wait for term SOFR and more.