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) is the baseline pricing mechanism in loan agreements, underpinning $200 trillion in outstanding contracts, including more than $2 trillion in loans. However, LIBOR will begin to be phased out in 2021, with one-week and two-month USD LIBOR and, likely, Euro LIBOR and Swiss Franc LIBOR ceasing on December 31, 2021, with 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.