Associated British Ports, From LIBOR to SONIA

Posted on 06/27/2019


Associated British Ports (ABP), the U.K.’s dominant port operator, has secured bondholder support to switch the benchmark for its £65 million floating rate notes due in 2022 from LIBOR to SONIA. LIBOR is an average rate, while SONIA refers to British Sterling overnight rates. Associated British Ports has exposure to LIBOR in a wide array […]