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LIBOR Transition: A Step Plan for Businesses
August 6, 2020, Covington Alert
In July 2017, the UK Financial Conduct Authority (FCA) announced the likely discontinuation by the end of 2021 of the London Interbank Offered Rate (LIBOR), the interest rate index used in calculating floating or adjustable rates for many loans, bonds, derivatives and other financial contracts.
August 23, 2020, The Wall Street Journal
John Ahern is quoted in The Wall Street Journal regarding the restructuring of European banks following the COVID-19 pandemic. Mr. Ahern says geographical diversification used to be seen as a way to offset weakness when one market cooled. “In coronavirus, you have a global economy almost in shutdown. You're not leveraging an advantage and can be exposed to too ...
Pandemic Sparks Worries Of Market Abuse Crackdown
August 5, 2020, Law360
John Ahern is quoted in Law360 regarding the UK’s increased crackdown on market abuse during the COVID-19 pandemic. Mr. Ahern says tackling market abuse appears to be "very close to the heart" of Mark Steward, the FCA's head of enforcement and market oversight, who reiterated in May that the FCA is continuing to monitor and investigate firms' conduct in real ...
December 21, 2018
LONDON—Covington’s Project Development and Finance practice has been recognized at the PFI Awards 2018 for the team’s work on the Al Ezzel and Sakaka transactions, which won “Middle East and Africa Refinancing Deal of the Year” and “Middle East and Africa Power Deal of the Year” respectively. The $243 million new financing facility for Al Ezzel Power Company, a ...