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Publication of paper relating to new issuance of Sterling bonds referencing Libor by the Working Group on Sterling Risk-Free Reference Rates
23 July 2018 ICMA is playing an important role in the work that is underway globally to transition away from IBORs and towards risk-free rates. As part of that, Paul Richards, Head of Market Practice and Regulatory Policy at ICMA, chairs the Sterling Risk-Free Rate Bond Market Sub-Group and is a member of the Working Group on Sterling Risk-Free Reference Rates.  

ICMA wishes to draw its members’ attention to the publication of a paper relating to new issuance of Sterling bonds referencing Libor by the Working Group on Sterling Risk-Free Reference Rates. The considerations in the paper are likely to have relevance for issuance of international floating rate bonds in all currencies for which Libor is quoted.

Download the paper

See also:
ICMA's webpage on benchmark reform and transition to risk-free rates
Bank of England's webpage on transition to sterling risk-free rates from Libor


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