Paul Hastings has a multidisciplinary, multijurisdictional practice dedicated to assisting our clients with the transition away from the London Interbank Offered Rate (LIBOR)—a key benchmark rate used for loans and other financial instruments. With the end of LIBOR, market participants have become increasingly focused on navigating the post-LIBOR environment. To that end, Paul Hastings brings together the right mix of legal expertise, market knowledge and business acumen, to aid clients with LIBOR transition.
Are You Ready?
In our video series, members of our LIBOR Transition Task Force take a closer look at the issues clients need to keep top of mind as they develop their LIBOR transition plans and prepare for the road ahead.
Your Strategic Partner in the Transition from LIBOR
We work closely with clients to ensure consistency and efficiency in implementing and overseeing LIBOR transition and create benefits of scale that come from combined resources and infrastructure. We advise banks, funds, borrowers, issuers and sovereigns, among others, on the full spectrum of matters relating to LIBOR transition, including:
- Assessments and Planning
- Identifying, categorizing and analyzing LIBOR contracts and assessing LIBOR exposure
- Establishing firm-wide transition frameworks taking into account, among other things, the impact of LIBOR transition on tax, regulatory and disclosure matters
- Analyzing and Strategizing
- Developing form amendments and fallback language that consider market practice, industry recommendations and the client’s operational constraints, liquidity needs and risk appetite
- Developing strategic action steps for implementation
- Preparing, negotiating and executing amendments to legacy contracts in line with strategic action plan
- Ongoing monitoring and tracking of the implementation and impact of fallback language in new LIBOR contracts and legacy contracts
Agreements and Financial Instruments Commonly Impacted
We cover the full range of agreements and financial instruments commonly impacted by the transition from LIBOR, including:
- Credit agreements
- CLOs / CDOs
- Floating rate notes
- Asset management agreements