LIBOR coming to an end
December 18 2019
You may be aware of the decision to stop using LIBOR as a standard interest rate benchmark. This is expected to come into effect towards the end of 2021.
Our current Terms and Conditions accommodate for this change, and allow for loans to be priced at a rate ‘comparable’ to LIBOR.
Right now it’s too early to indicate specifically what we’ll do if LIBOR ceases, but we’re aware of the current terms that require the adoption of comparable rates.
We’re keeping up to date with any industry developments, and are examining the various alternative options available to us.
We’ll update you on any news and changes as and when they occur.