other material
confidence high
sentiment neutral
materiality 0.25
Assured Guaranty transitions LIBOR-linked securities to SOFR-based benchmarks per Federal LIBOR Act
ASSURED GUARANTY LTD
- Debentures (US Holdings, Municipal Holdings) switch to Three-Month CME Term SOFR + 0.26161% spread after June 30, 2023.
- Committed capital securities (Assured Guaranty Corp., Municipal Corp.) switch to One-Month CME Term SOFR + 0.11448% spread.
- Transition automatic under the Federal LIBOR Act and FRB Implementing Regulation; no holder action required.
- Affected CUSIPs include 04622DAA9, 31769PAB6, and eight Sutton/Woodbourne Capital Trust issues.