The LIBOR Phase Out

Orrick, Swap Financial Group and the Bond Buyer

Webinar: The LIBOR Phase Out

The Bond Buyer

Webinar | January.16.2019 | 12pm - 1pm (Eastern Standard Time)

Webcast

LIBOR is the most widely used reference rate in the financial markets and it may be discontinued after 2021. For U.S. dollar-denominated contracts, it is expected to be replaced with SOFR (Secured Overnight Funding Rate). The implications to municipal issuers and borrowers are widespread, impacting bond documents, derivatives, credit, liquidity and other bank documents and investment agreements. The potential discontinuance of LIBOR could negatively impact municipal issuers and borrowers, especially if the expected shift to SOFR ultimately results in a rate that differs substantially from LIBOR. Please join Orrick, Swap Financial Group and the Bond Buyer for a webinar to learn more about the expected transition from LIBOR to SOFR.

Topics to be discussed:

Comparison of LIBOR versus SOFR
Planned protocol which will govern the conversion
Possible risk mitigation strategies
How municipal issuers and borrowers can plan for the phase-out of LIBOR
Tax implications

Orrick Speakers

Jenna Magan Partner, Public Finance

Sacramento

See my bio

D:+1 916 329 7980
E: [email protected]

Practice:

Finance Sector
Public Finance

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Jenna Magan Partner

Sacramento

Jenna has worked on all structures available in public finance, including fixed and variable, tax-exempt and taxable, insured, letter of credit and liquidity supported bonds, conversions, tenders, exchanges, restructurings and reofferings, senior/subordinate, capital appreciation and convertible capital appreciation bonds, securitizations, project finance, direct purchases, bank-qualified transactions and 144A and Section 4a2 offerings.

Jenna's practice focuses on the following areas, in which she has acted as bond, borrower’s, disclosure, underwriter's, and bank/direct purchaser’s counsel:

Healthcare, Senior Living and Other 501(c)(3) Financings
Local Government Lease, Enterprise (Water, Wastewater, Airport, Solid Waste), Pension Obligation and Short-Term Financings
State of California Bond Financings
Project Financings
Tobacco Securitization Financings
Post-Issuance Compliance

Barbara Jane League Partner, Public Finance, Tax

Houston; Austin

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D:+1 713 658 6786
E: [email protected]

Practice:

Finance Sector
Public Finance
Tax

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Barbara Jane League Partner

Houston; Austin

She also has significant experience representing nonprofit organizations. Formerly an attorney with the Chief Counsel of the Internal Revenue Service, Barbara has represented clients before the IRS in a variety of matters involving tax-exempt bonds, including audits and private letter ruling requests. She has participated in all facets of the tax analysis associated with the issuance of governmental purpose bonds, certain tax credit bonds, qualified 501(c)(3) bonds, qualified residential rental bonds and qualified small issue bonds.

Barbara has served on the Steering Committee and has chaired the Working Capital panel and the Bond Direct Purchase - Advanced Tax Topics panel for the Bond Attorneys’ Workshop, the oldest and largest annual gathering of bond lawyers.