First Ameribor bond bolsters SOFR alternative

Signature Bank sets sub debt milestone for aspiring Libor replacement; swaps expected to follow


Ameribor has taken an early lead in the race to establish a credit-sensitive alternative to US dollar Libor, after it was used in a bond issue earlier this month. The US market already has an officially endorsed successor to Libor – the secured overnight financing rate (SOFR) – but regional banks have been pushing for a benchmark that would rise and fall in line with their funding costs.

New York-based lender Signature Bank priced a $375 million Ameribor bond on October 6. The notes pay a fixed

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: