Anyone affected in their jobs? Never worked with LIBOR rates directly.
all my teams loans are LIBOR loans - any ones we’ve done over the last year or so have tended to just include libor transition language to whatever the market consensus is on rate setting mechanism (defaulting to prime with adjustments if necessary)
no one is particularly worried
It will be a drag on business to the extent that all clients will have to agree to new kinds of documentation, but I don’t think the rate change itself alters (legal) business in a fundamental way.