Key takeaways:

• NYSE Euronext will take over administration of the London Inter-Bank Offered Rate (“LIBOR”), which was historically administered by The British Bankers’ Association. The change in administrator is expected to be effective by early 2014.
• Borrowers may wish to review existing credit agreements to determine what impact, if any, the change in LIBOR administration will have on loans with LIBOR-based interest rates.
• In some cases, an amendment to clarify how LIBOR is determined may be desirable before NYSE Euronext takes over administration.