Lloyds is planning to switch the reference rate on its Permanent UK RMBS Master Trust from LIBOR to SONIA. Lloyds is seeking to use negative consent provisions to make the , requiring fewer than 10% of investors to object to the change. The move will be a major change for Lloyds, which has been using the benchmark interest rate, known as Libor, since it was introduced in 2008.
Lloyds is planning to switch the reference rate on its Permanent UK RMBS Master Trust from LIBOR to SONIA. The move will be a major change for Lloyds, which has been using the benchmark interest rate, known as Libor, since it was introduced in 2008.