More Hongkong Corporate Loans linked to RFR

  • More corporate loans linked to SOFR have been completed in Hong Kong as the city joins the process of moving away from the LIBOR benchmark. Oversea-Chinese Banking Corp provided two loans referencing the SOFR in Hong Kong. The development comes after Hong Kong got its first corporate loan linked to SOFR in December
  • Global regulators are driving the transition process after the rate-rigging scandal, but currently trillions of assets are underpinned by LIBOR