This CLE webinar will discuss the scheduled phase-out of LIBOR (London Interbank Offered Rate) at the end of 2021. The panel will address alternative rates and provisions recommended by the Alternative Reference Rate Committee (ARRC) of the Federal Reserve Bank of New York and the steps that lenders and finance counsel should take to amend existing transaction documents and manage new transactions. The panel will also discuss the impact on swaps and other derivatives and evaluate alternative rate language in ISDA documents.

The panel will review these and other critical issues:

• What is the timeline for LIBOR's phase-out?
• What kinds of financing transactions will be impacted by the phase-out of LIBOR?
• What are the issues with alternative rate language currently contained in loan documents?
• How should floating rate forms be revised to address the phase-out and the use of SOFR as a substitute rate?
• What should counsel look for in ISDA agreements to confirm a suitable alternative rate?

Panelists:

• William J. Breslin, Fried Frank Harris Shriver & Jacobson
• Cheryl L. Isaac, Michael Best & Friedrich
• Robert M. McLaughlin, Fried Frank Harris Shriver & Jacobson