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NYSE Euronext to Take over LIBOR
11 July 2013
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.
William B. Beekman
David A. Brittenham
Paul D. Brusiloff
Alan J. Davies
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