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Consequences of LIBOR replacement in Middle East banking market

June 18, 2020

The London Interbank Offered Rate is a ubiquitous feature in financing transactions across the Middle East. Accordingly, the removal of LIBOR in 2021 and implementation of proposed alternatives will have wide reaching consequences.

Al Tamimi & Company & Outer Temple Chambers hosted an interactive webinar where the following points were discussed;

  • A recap on LIBOR replacement, the alternatives and impact on regional lending
  • Overview of the English and local law risks to LIBOR replacement, with a special focus on the English law litigation issues.
  • Consequences for facility and hedging agreements.
  • Suggestions for managing the legal and contractual issues of the transition.