Creating a blueprint for LIBOR transition

January 7, 2021 - 2:35 minutes

Leveraging our knowledge and research on LIBOR transition and SOFR rates, we created an optimal legacy bond swap for Federal Farm Credit Bank (FFCB). The swap can be viewed as a potential playbook for clients stuck with outstanding legacy cash bonds linked to LIBOR past 2021.

Disclaimer
The information contained in this material is for informational purposes only and is not intended to provide professional, investment or any other type of advice or recommendation, or to create a fiduciary relationship. Neither TD Securities (USA) LLC ("TD Securities USA") nor any of its affiliates (collectively, "TD") makes any representation or warranty, express or implied, regarding the accuracy, reliability, completeness, appropriateness or sufficiency for any purpose of any information included in this material. Certain information may have been provided by third-party sources and, while believed to be reliable, has not been independently verified by TD, and its accuracy or completeness cannot be guaranteed.
Priya Misra headshot

Priya Misra
Managing Director and Global Head of Rates Strategy, TD Securities

Priya Misra headshot

Priya Misra
Managing Director and Global Head of Rates Strategy, TD Securities

Priya Misra headshot

Priya Misra
Managing Director and Global Head of Rates Strategy, TD Securities

Priya is responsible for the macro calls on the U.S. and global interest rate markets and provides investment advice to clients. She represents TD at the Fed's Alternative Reference Rate Committee (ARRC) and is actively involved in the transition from LIBOR to SOFR. She publishes regular research on interest rates, discussing secular trends as well as trade ideas and manages a model portfolio of recommendations.

Eileen Solla-Diaz head shot

Eileen Solla-Diaz
Managing Director and Head of Public Finance & U.S. Agency Debt Capital Markets, TD Securities

Eileen Solla-Diaz head shot

Eileen Solla-Diaz
Managing Director and Head of Public Finance & U.S. Agency Debt Capital Markets, TD Securities

Eileen Solla-Diaz head shot

Eileen Solla-Diaz
Managing Director and Head of Public Finance & U.S. Agency Debt Capital Markets, TD Securities

In delivering innovative solutions to clients, Eileen has been involved in a number of landmark transactions, including Sustainable Bond offerings and inaugural Secured Overnight Financing Rate (“SOFR”) index transactions from SSA and municipal borrowers. Eileen has been a leader in the LIBOR transition effort, working closely to educate issuers, investors and internal partners.

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