LIBOR Replacement Resource Kit
This resource kit provides an overview of replacing LIBOR as the benchmark interest rate in loan documents. The London Interbank Offered Rate (LIBOR) (often referred to as the Eurodollar Rate in credit agreements) started being phased out in 2021, with one-week and two-month USD LIBOR ceasing on December 31, 2021, and the remaining tenors terminating on June 30, 2023. As a result, new financings—and loan facilities with maturities beyond that date—must contemplate replacing LIBOR with another reference rate before that time. This resource kit includes Practical Guidance materials on the methods and process for replacing LIBOR, including detailed practice notes, forms, and articles.