Baker McKenzie provides model documentation for transition from LIBOR to SARON in the Swiss syndicated loan market

In a pro bono project for the Swiss National Working Group on Swiss Franc Reference Rates (NWG), Baker McKenzie Switzerland prepared a Form of Amendment Agreement for Swiss law governed syndicated credit facility agreements using CHF LIBOR as base rate for the calculation of interest.

The Amendment Agreement introduces a mechanism for the switch from CHF LIBOR to Compounded SARON based on the NWG’s recommended conventions.

The Baker McKenzie team consisted of Lukas Glanzmann (pictured left), Samuel Marbacher and Markus Wolf.