The change affects any company that has borrowed money through rate-referenced debt or has an agreement that references the London Interbank Offered Rate.
A lot of contract/legal agreement reviews to check out related clauses that need to be updated and amended. There are going to be a lot of LIBOR transition projects. Loads of paralegal work!!!
End of LIBOR: How all industries, not just banks, can prepare
By Mark D. Mishler, CPA
August 1, 2020
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