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Dry bulk operator signs first English law Libor phase-out finance deal

Seastar agrees bank lending agreement that will eventually use the Secured Overnight Financing Rate as benchmark once the London Interbank Offered Rate is axed next year

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New transaction will be first of many to adopt a new reference rate, accounting for the demise of Libor. Existing loans will need rewording too, experts warn

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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