Credit Spread Adjustment and Rate Floor Tracker (2022-23)

Summary

This credit spread adjustment tracker identifies certain key benchmark rate terms in new publicly filed loans, including credit spread adjustments for SOFR loans and interest rate floors. The ARRC recommended using the five-year historical median difference between LIBOR and SOFR (set on March 5, 2021) as the default spread adjustment. However, most recent deals have trended away from using the AARC's recommended spread adjustment as discussed below. This tracker is reviewed on at least a weekly basis and updated as needed.