Issues Impacting Floating Rate Notes, Preferred Stock, Depositary Shares, and Capital Securities: Part 2

LIBOR Transition

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”.