Consent solicitation - Revision history

Doug: Layout.

2024-10-05T08:12:46Z

Layout.

← Older revision		Revision as of 08:12, 5 October 2024
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	LIBOR ended in September 2024.		:LIBOR ended in September 2024.


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	*[https://www.bankofengland.co.uk/news/2024/october/the-end-of-libor The end of LIBOR - Press release - Bank of England - 1 October 2024]		*[https://www.bankofengland.co.uk/news/2024/october/the-end-of-libor The end of LIBOR - Press release - Bank of England - 1 October 2024]

	~~[[Category:Accounting,_tax_and_regulation]]~~
	~~[[Category:Financial_products_and_markets]]~~
	~~[[Category:Identify_and_assess_risks]]~~
	~~[[Category:Investment]]~~
	~~[[Category:Long_term_funding]]~~
	~~[[Category:Manage_risks]]~~
	~~[[Category:The_business_context]]~~

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]

Doug: Update for cessation of LIBOR.

2024-10-04T23:38:17Z

Update for cessation of LIBOR.

← Older revision		Revision as of 23:38, 4 October 2024
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	A consent solicitation is a formal offer by the issuer of a security to change the terms of the security agreement.		A consent solicitation is a formal offer by the issuer of a security to change the terms of the security agreement.

	For example, a bond issuer might ask bondholders if the terms of a ~~LIBOR~~-linked bond indenture may be changed, in order to transition to another appropriate benchmark rate.		For example, a bond issuer might ask bondholders if the terms of a benchmark rate-linked bond indenture may be changed, in order to transition to another appropriate benchmark rate.

	Consent solicitations are necessary, because security agreements need mutual consent in order for them to be changed.		Consent solicitations are necessary, because security agreements need mutual consent in order for them to be changed.
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	:''Hugo Gordon, Policy Specialist, Capital Markets, from The Investment Association - ACT guest blog - 15 July 2021''		:''Hugo Gordon, Policy Specialist, Capital Markets, from The Investment Association - ACT guest blog - 15 July 2021''


			LIBOR ended in September 2024.


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	*[[Tough legacy]]		*[[Tough legacy]]
	*[[Transition]]		*[[Transition]]


			==Other resource==

			*[https://www.bankofengland.co.uk/news/2024/october/the-end-of-libor The end of LIBOR - Press release - Bank of England - 1 October 2024]

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]
			[[Category:Financial_products_and_markets]]
			[[Category:Identify_and_assess_risks]]
			[[Category:Investment]]
			[[Category:Long_term_funding]]
			[[Category:Manage_risks]]
	[[Category:The_business_context]]		[[Category:The_business_context]]

			[[Category:Accounting,_tax_and_regulation]]
			[[Category:Financial_products_and_markets]]
			[[Category:Identify_and_assess_risks]]
	[[Category:Investment]]		[[Category:Investment]]
	[[Category:Long_term_funding]]		[[Category:Long_term_funding]]
	~~[[Category:Identify_and_assess_risks]]~~
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imported>Doug Williamson: Add link.

2021-07-19T21:45:49Z

Add link.

← Older revision		Revision as of 21:45, 19 July 2021
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	*[[Risk-free rates]]		*[[Risk-free rates]]
	*[[Security]]		*[[Security]]
			*[[Solicited rating]]
	*[[The Investment Association]] (IA)		*[[The Investment Association]] (IA)
	*[[Tough legacy]]		*[[Tough legacy]]

imported>Doug Williamson: Add link.

2021-07-19T15:26:36Z

Add link.

← Older revision		Revision as of 15:26, 19 July 2021
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	*[[LIBOR]]		*[[LIBOR]]
	*[[Risk-free rates]]		*[[Risk-free rates]]
			*[[Security]]
	*[[The Investment Association]] (IA)		*[[The Investment Association]] (IA)
	*[[Tough legacy]]		*[[Tough legacy]]

imported>Doug Williamson: Create page. Source: The Financial Dictionary https://financial-dictionary.thefreedictionary.com/Consent+Solicitation

2021-07-19T15:25:46Z

Create page. Source: The Financial Dictionary https://financial-dictionary.thefreedictionary.com/Consent+Solicitation

New page

''Securities - debt - bonds - bond indenture''

A consent solicitation is a formal offer by the issuer of a security to change the terms of the security agreement.

For example, a bond issuer might ask bondholders if the terms of a LIBOR-linked bond indenture may be changed, in order to transition to another appropriate benchmark rate.

Consent solicitations are necessary, because security agreements need mutual consent in order for them to be changed.

:<span style="color:#4B0082">'''''Transitioning LIBOR-linked bonds'''''</span>

:"The key message for issuers is that they should now be actively transitioning their outstanding LIBOR-linked bonds through consent solicitations or other methods, and clearly communicating their plans to their investors, and in a timely manner.

:Investment managers are aware that some issuers have been reluctant to launch proposals for fear of not gathering sufficient support, and would like to make it clear that investors are fully supportive of the transition process.

:To this end, the IA's report also includes a list of the key features LIBOR-transition consent solicitations should have in order to maximise the chance of success - these features include strong engagement, awareness of existing regulator and industry body announcements and recommendations, and a clear focus on LIBOR transition as opposed to other matters."

:''Hugo Gordon, Policy Specialist, Capital Markets, from The Investment Association - ACT guest blog - 15 July 2021''

==See also==
*[[Benchmark]]
*[[Bond]]
*[[Bondholder]]
*[[Bond indenture]]
*[[LIBOR]]
*[[Risk-free rates]]
*[[The Investment Association]] (IA)
*[[Tough legacy]]
*[[Transition]]

[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Investment]]
[[Category:Long_term_funding]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Financial_products_and_markets]]