Examples of SONIA in a sentence
Where the aggregate of SONIA + CAS is less than the legacy floor value, the Working Group’s recommendation is for the CAS to remain unchanged, with SONIA adjusted to ensure that the aggregate of SONIA + CAS is equal to the legacy floor value.
A suite of SONIA loan documents aligned to the Working Group’s recommended set of conventions outlined in this guide is available via the Loan Market Association website Documents (lma.eu.com).
SONIA: Published by the Bank of England, SONIA remains the Working Group’s recommended alternative to Sterling LIBOR, implemented via a daily compounded in arrears methodology.Margin: Simple average of the margin, which is to be added after the rate compounding.Lookback: Standard of 5 Banking Days lookback without observation shift is recommended, days can vary based on borrower / lender needs.
Interest on the loan is determined as an aggregate of compounded SONIA plus a margin.Available facilitiesThe Group has good access to liquidity:• The Group has a £300 million bilateral loan facility, which matures on 30 June 2026.
Investors should consider these matters when making their investment decision with respect to any Notes which reference SONIA, SONIA Compounded Index, SOFR, SOFR Compounded Index, €STR or €STR Compounded Index.