Sep 9, 2020
Join Mayer Brown partners Anna Pinedo and Paul Forrester for the
second of our two part edition focusing on the key LIBOR related
issues impacting Floating Rate Notes (FRNs), Preferred Stock,
Depositary Shares, and Capital Securities. In this part, we will
focus specifically addressing LIBOR based Preferred Stock,
Depositary Shares, and Capital Securities. Amongst other things,
Anna and Paul will discuss LIBOR cessation and understanding the
terms of legacy LIBOR-based instruments; understanding the
provisions of fixed-to-floating or floating rate preferred or
depositary shares; evaluating the alternatives for amending the
terms of these securities based on the governing documents, state
law requirements, and other considerations and, Pooled TruPS and
possible “tranche wars”.