Practice & Regional News
K&L Gates Partner Co-Authors Playbook for Upcoming LIBOR Transition
Stacy Ackermann, a leader of K&L Gates’ global Finance practice area, recently co-authored a playbook with the Commercial Real Estate Finance Council (CREFC) that addresses the transition away from the London Interbank Offered Rate (LIBOR) this June.
The CREFC LIBOR Legacy Playbook is directed toward the commercial mortgage-backed securities (CMBS) community, and outlines processes and procedures related to the transition of floating rate debt away from a LIBOR index to an alternate index, the Secured Overnight Financing Rate (SOFR), which will be critical to commercial real estate and multifamily market participants.
Ackermann is chair of the CREFC’s Servicer’s Forum, which represents master, primary, and special servicers of CMBS conduit, SASB, CRE CLO, and Agency debt.
K&L Gates is a fully integrated global law firm with lawyers located across five continents. The firm represents leading multinational corporations, growth and middle-market companies, capital markets participants and entrepreneurs in every major industry group as well as public sector entities, educational institutions, philanthropic organizations and individuals.
