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Patrick Ryan Quoted in Financial Times on Transition from LIBOR to SOFR
02.28.23
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Patrick Ryan, Head of the Firm’s Global Banking and Credit Practice, was quoted in a Financial Times article which comments on the ongoing transition from LIBOR to SOFR, noting how a majority of loans still have not switched over to SOFR notwithstanding the impending June deadline, at which point LIBOR will no longer be quoted. When explaining the current market related to the lending rate transition, Patrick noted that “Some people have adopted a wait-and-see view,” and that the switchover is likely to accelerate and the participants still have to a lot of work to do.
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