Fri 09/16/2022 09:55 AM
Investors are pushing back against the efforts of some borrowers to transition the base rate on their term loans to SOFR from LIBOR without a corresponding adjustment in the credit spread difference between the two benchmarks.
Companies that have sought, or are seeking, such a transition without credit spread adjustment include Petco, Sedgwick, Internet Brands, PowerSchool, Ascend Performance Materials, Blackhawk Network, DigiCert, RBMedia, National Seating, Help at Home and White Cap, among...
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