454% per annum until and including October 15, 2034, and thereafter at a floating rate equal to the London inter-bank offered rate
for three-month deposits in U.
Libor is an abbreviation for London Inter-Bank Offered Rate
Libor - or the London inter-bank offered rate
- represents how much banks pay to borrow from each other and is one of the most important interest rates in the world of finance, influencing how much banks around the world charge for around PS190trillion worth of financial products, including mortgages and loans.
The news comes at a time when the UK Financial Services Authority fined leading banks for manipulating the benchmark London Inter-Bank Offered Rate
, or Libor, for their benefit.
Large loans may be charged at a variable rate linked to the London inter-bank offered rate
An unidentified British trader with UBS Securities Japan had asked banks participating in the Tokyo inter-bank offered rate
(Tibor) to offer rates that would help his derivative transactions.
That deal paid 350 basis points above the London inter-bank offered rate
The $400 million loan has a maturity of three years and would pay 338 basis points above the London inter-bank offered rate
(Libor), Pertamina finance director Ferederick Siahaan said.
Mortgage rates are governed by the London inter-bank offered rate
(Libor), which is at 5.
Borrowing deals in the Middle East, which were coming out expecting to price 60 or 70 basis points above the London inter-bank offered rate
(Libor), are now getting close to three digits.
The BBA has also found itself in the news because of its LIBOR - the London Inter-Bank Offered Rate
, the interest rate at which large banks will lend each other money for short periods of time.
Conventional loans more typically are keyed to the Prime rate or to the London Inter-Bank Offered Rate