Mar

    LIBOR's End: What CRE Lenders and Borrowers Need to Know (and Do) Now

    1 PM EST

    The London Interbank Offered Rate (LIBOR) has long been a benchmark rate used in determining interest rates on real estate financings and other loans. However, there will be a transition away from the use of LIBOR by the end of 2021, and a successor rate will need to be selected. This program will examine LIBOR's looming end as a viable rate and the actions you should take in preparation for its demise.

    Select your state to learn more about the credit details and status of CLE application.

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      03/03/2022

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2021

    1.50 total credit hours including

    • Substantive Law

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2023

    2.00 total credit hours including

    • General

      Status:

      Applied for

      2.00 credit hours

      Available until:

      12/30/2022

    1.50 total credit hours including

    • General

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2022

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      09/03/2021

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2022

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2025

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2022

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2021

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2022

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2022

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      03/03/2023

    1.80 total credit hours including

    • General

      Status:

      Self apply

      1.80 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2022

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2023

    1.80 total credit hours including

    • General

      Status:

      Approved

      1.80 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      03/03/2022

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      03/03/2023

    1.80 total credit hours including

    • General

      Status:

      Reciprocity

      1.80 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2025

    1.50 total credit hours including

    • Areas of Professional Practice

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2023

    2.00 total credit hours including

    • General

      Status:

      Applied for

      2.00 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • Substantive

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2022

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2022

    1.50 total credit hours including

    • General

      Status:

      Available for credit

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2022

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Applied for

      1.50 credit hours

      Available until:

      10/30/2020

    1.50 total credit hours including

    • Law & Legal Procedure

      Status:

      Applied for

      1.50 credit hours

      Available until:

      03/03/2025

    1.80 total credit hours including

    • General

      Status:

      Approved

      1.80 credit hours

      Available until:

      03/03/2023

    1.50 total credit hours including

    • General

      Status:

      Approved

      1.50 credit hours

      Available until:

      03/03/2021

    1.50 total credit hours including

    • General

      Status:

      Self apply

      1.50 credit hours

      Available until:

      03/03/2023

    $175
    NON-MEMBERS
    $150
    MEMBERS
    $95
    SECTION MEMBERS
    Register Now *Additional discounts may apply at checkout

    Log In to view your rate

    Join now to receive additional discounts
    Join and Buy – NOW

    Topics will include:

    • LIBOR history, problems and early solutions
    • The global need for alternative rates and country-specific proposed alternatives
    • Secured Overnight Financing Rate (SOFR), the U.S. alternative rate proposed by the Alternative Reference Rates Committee (ARRC)
    • Differences between SOFR and LIBOR
    • Contractual issues in existing LIBOR documents and the ARRC proposed amendment language
    • For Lenders and Borrowers: The dangers of doing nothing
    • Actions to take now

    Speakers:

    • Readie Callahan, Wells Fargo, San Francisco, CA
    • Daniel R. Rubock, Moody's Investor Service, New York, NY
    • Jonathan Thalheimer, McGuire, Craddock & Strother, PC, Dallas, TX

    The ABA will seek 1.5 hours of CLE credit in 60-minute states and 1.8 hours of CLE credit for this program in 50- minute states. Credit hours are estimated and are subject to each state’s approval and credit rounding rules. Please visit americanbar.org/mcle for general information on CLE at the ABA.

    Event Details

    Duration

    90

    Format

    Web

    Date

    Mar 04, 2020

    2020-03-04T13:00:00-05:00 2020-03-04T14:30:00-05:00 LIBOR's End: What CRE Lenders and Borrowers Need to Know (and Do) Now

    The London Interbank Offered Rate (LIBOR) has long been a benchmark rate used in determining interest rates on real estate financings and other loans. However, there will be a transition away from the use of LIBOR by the end of 2021, and a successor rate will need to be selected. This program will examine LIBOR's looming end as a viable rate and the actions you should take in preparation for its demise.

    Speakers

    Daniel Rubock

    Moody's Investors Service, Inc.

    Jonathan Thalheimer

    McGuire Craddock & Strother PC

    Jonathan Thalheimer is a shareholder at McGuire, Craddock and Strother, PC in Dallas, Texas, where he focuses on complex finance and commercial real estate transactions. Jonathan represents clients in sales and acquisitions, construction, portfolio and conduit lending, loan syndications, corporate and municipal bonds, interest rate caps and swaps, aircraft financing, and other structured finance transactions. Notable transactions include representing the agent in a $1.2 billion dollar Canada Business Corporations Act plan of arrangement recapitalization, in a $48 billion dollar acquisition, and in the bankruptcy, credit bid, and asset purchase relating to a $425 million facility.  Jonathan is a frequent lecturer and has authored papers on a variety of topics, most recently on LIBOR, Commercial Mortgage Backed Securities, High Volatility Commercial Real Estate regulations, Texas title insurance, and on Non-Recourse Carve Outs. Jonathan is a fellow and Chair of ACREL’s Capital Markets committee and is a fellow of the American College of Mortgage Attorneys, where he serves on its Board of Regents, as the Co-Chair of its Capital Markets committee and as its Texas State Chair. In 2019, he was elected to serve on the governing council of the State Bar of Texas’ Real Estate, Probate & Trust Law Section. He is a fellow of the American Bar Foundation, the Texas Bar Foundation and the Dallas Bar Foundation. He is also a member of the Mortgage Bankers’ Association, the Urban Land Institute, the Texas Association of Bank Counsel, and the William “Mac” Taylor, Jr. 112th American Inn of Court, and has been recognized by the Best Lawyers in America, the Texas Super Lawyers and Best Lawyers in Dallas. Jonathan earned a B.A. in History from Yale University, graduating magna cum laude, with honors, and earned his J.D. from the University of Virginia, where he was co-director of its post-conviction assistance project.

    Readie Callahan

    Wells Fargo

    Bio:

    The Wells Fargo LIBOR Transition Office is charged with developing and directing the execution of a coordinated strategy to transition the numerous IBOR-based products and processes across the company to alternative reference rates. As Head of Communications Strategy, I manage strategic efforts to ensure clear and consistent information is shared with regulators, customers and other stakeholders transitioning from IBORs to new floating rate benchmarks.

     

    Prior to joining the LIBOR Transition Office, I was an investment banker serving municipal and not-for-profit clients for over 10 years, specializing in structuring on-balance sheet loans and securities, underwriting fixed and floating rate debt, and implementing pricing and funding strategies to the changing regulatory environment.

    Sponsors

    Section of Real Property, Trust and Estate Law

    Related Products

    Related On-Demand CLE