It is planning to switch the reference mark on its Permanent UK RMBS Master Certificate from LIBOR to SONIA . The company is also requesting permission from holders to apply the " simple , transparent and standardised " ( SS ) label to the bonds and is seeking to use negative consent provisions to make the switch , which requires fewer than 10 % of investors to object to the change .
Lloyds is planning to switch the reference rate on its Permanent UK RMBS Master Trust from LIBOR to SONIA. The bank is also requesting permission from holders to apply the "simple, transparent and standardised" (STS) label to the bonds and is seeking to use negative consent provisions to make the switch, which requires fewer than 10% of investors to object to the change.