Webinar: The ARRC's Final Recommendations for Fallbacks for LIBOR Floating Rate Notes
Cadwalader partner Lary Stromfeld, alongside Alexis Pederson, Senior Company Counsel at Wells Fargo Legal Department, will be speaking on a complimentary CLE webinar discussing the Alternative Reference Rates Committee's final recommendations for fallbacks for LIBOR floating rate notes.
The webinar will discuss:
- An overview of the Secured Overnight Financing Rate (“SOFR”) as the alternative replacement rate
- What are the events that trigger transition from LIBOR?
- Explanation of the “waterfall” of replacement rates, such as term SOFR and Compounded SOFR
- Discussion of spread adjustments to reflect differences between term unsecured LIBOR and overnight secured SOFR
- What are some of the differences in fallback language between FRNs and derivatives?
- What comes next?