Term SONIA (Sterling Overnight Index Average) –GBP Credit facilities

Term SONIA is a daily forward-looking term rate based on the overnight index swap contracts that reference SONIA. It’s used in loan agreements as a reference rate for GBP loans with tenors of one, three, six and twelve months (Replaced GBP LIBOR, which ceased to be published at the end of 2021).
Term SONIA is administered and published by Refinitiv Benchmark Services (UK) Limited on each London business day at 11:50am London time, two business days prior to the commencement of the relevant interest period.
 
Term SONIA Data is available at the following address:
Term SONIA Reference Rates | Refinitiv
 
A Credit Spread Adjustment (CAS) has been incorporated to adjust (increase) the SONIA rate interest, to compensate for the calculation methodology differences between the LIBOR and SONIA (a risk-free rate).
In case Term SONIA is less than zero, then Term SONIA shall be deemed to be zero for the particular interest period.
In case Term SONIA plus CAS is less than zero, then Term SONIA plus CAS shall be deemed to be zero for the particular interest period.