With just over two weeks to go until the USD Libor ceases on 30 June 2023, SRP lists some of the measures taken by issuers for their outstanding structured notes.
Credit Suisse announced that, following 30 June 2023, the CME Term SOFR (Secured Overnight Financing Rate) – a daily set of forward-looking interest rate estimates, calculated and published for one-month, three-month, six-month, and 12-month tenors – will be the replacement reference rate for its outstanding securities that use USD Libor as the reference rate. The calculation of the amount of interest payable will also include the tenor spread adjustment of 0.26161%. The notes in
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