Mr. Taylor is European counsel in Davis Polk's Corporate Department, practicing in the London office. [Full Bio]

Following our initial post and subsequent update on the Bank of England’s (the “Bank”) Covid Corporate Financing Facility (“CCFF”), on 19 May 2020 the Bank issued a press release announcing the publication of a consolidated market notice that incorporates revisions to the operation of the CCFF, including with respect to
Continue Reading COVID-19: Update to the Covid Corporate Financing Facility

Following our initial post on the Bank of England’s (the “Bank”) Covid Corporate Financing Facility (“CCFF”), the Bank has published further details, including full terms and conditions of participation and application forms for prospective issuers and banks acting on behalf of companies.

If, after speaking with their respective banks, prospective
Continue Reading The Bank of England Releases Further Details on its Covid Corporate Financing Facility and ICMA Makes Euro Commercial Paper Materials Publicly Available

The Bank of England has emphasized that the economic shock from coronavirus (COVID-19) will pose a challenge for the maintenance of liquidity and working capital by UK companies.  With the objective of easing the cashflow difficulties likely to be widely faced by the UK corporate sector in the coming months,
Continue Reading HM Treasury and The Bank Of England Throw Combined Weight Behind New Coronavirus (COVID-19) Commercial Paper Programme

Market participants are undertaking significant work to prepare for a transition away from LIBOR. This publication focuses on the legal framework and other issues related to fallback language. To give a more tangible sense of what may be at stake and the efforts required to transition, it provides in-depth analyses
Continue Reading LIBOR Fallbacks in Focus