English translation: London Interbank Offered Rate
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English to English translations [PRO] Bus/Financial - Finance (general) / Meaning of acronym/types of interest rate
English term or phrase:LTBO/LIBO (rates)
Could someone tell me the meaning of these acronyms?
In the Internet I have found “Legal Toolkit for Business Owners, Controllers, and CPAs”, but I think this is not the appropriate meaning in this context:
“The interest rate on the Facility for each Loan shall be:
For LTBO Rate Loans, the interest rate shall be the sum of: (w) the LIBO Rate plus (x) the Applicable Margin (capitalized terms defined below).”
I have to apologize with everybody: Nesri is right.
I have called the client, who has confirmed what Nesri says: “LTBO” is a typo for “LIBO”. I am really sorry about that. I have to change my choice. THANKS!
See: "The Company has historically selected LIBOR loans (as opposed to base rate loans) as the basis for determining its interest rates (...) The weighted-average interest rates (LIBOR plus applicable margins) on Tranche A and Tranche B was approximately
Hi Manuel - you may be right in your choice of course, but I really believe that there's no such thing as LTBO. I think it's a typo for LIBO. It doesn't make sense that there's no indication anywhere on the internet as to what it stands for. Also there -
Certainly a good question, Ken; something that I had overlooked.
“LIBO Rate” is defined, and means what the colleagues say.
Unfortunately, “LTBO Rate” is not defined, but the meaning must be what Miguel says.
Millions of thanks to you all!
What are the definitions given in the 'capitalized terms defined below' section (or is that part missing)?
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London Interbank Offered Rate
Explanation: What is LIBOR?
Libor stands for the London Interbank Offered Rate and is the rate of interest at which banks borrow funds from each other, in marketable size, in the London interbank market.
(taken from the website of the British Bankers' Association)