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

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
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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,
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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
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