Finance Insights Spring 2019

Welcome to the spring 2019 edition of our semi-annual newsletter for corporate treasurers, chief financial officers and corporate general counsel in which we highlight key topical issues in the financial markets and explore their implications from a corporate perspective.

In this edition, we continue our series examining global interest rate reform. Momentum is building in the steps being taken to transition away from LIBOR, with a number of key developments over the last six months. €STR, the recommended euro risk-free rate, is set to be published from 2 October 2019, prompting activity in preparation for this. Staying abreast of these developments is of growing importance.

Regulatory change also continues to evolve. A new prospectus regime will apply in full from 21 July 2019, introducing key changes relevant to issuers. Changes to EMIR are set to come into force in late June or July 2019, with the intention of making compliance with EMIR easier for corporates and other non-financial counterparties.

We revisit the development of green finance, discussing new regulatory initiatives in relation to environmental, social and governance issues. Lastly, we consider the release of preliminary panda bond guidelines by the People’s Bank of China and their potential impact on the viability of panda bonds as a source of funding.

We hope you find this edition helpful and would be pleased to discuss further any queries or comments which any of the articles may raise.

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