Category: Uncategorised

Welcoming SONIA: The New Benchmark Rate replacing LIBOR

ANZ’s (ASX: ANZ) issuance of £740 million (~A$1.35 billion) on 11 January 2018 represented the first non-UK bank to launch a SONIA-linked covered bond.  The competitive and sizeable issue signifies the emergence of the Sterling Overnight Index Average (SONIA) as an appropriate replacement of the London Interbank Offered Rate (LIBOR) for all issuers. Following the…Read More