LSTA Releases Final Draft of Simple SOFR Concept Credit Agreement

Summary

On July 13, 2020, the Loan Syndications & Trading Association (LSTA) circulated to its Primary Market Committee a final draft of its concept credit agreement (the LSTA Credit Agreement) describing a term loan referencing daily simple Secured Overnight Financing Rate (SOFR) or daily compounded SOFR. The LSTA announcement is available here.