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James Taylor is a partner in the Banking & Finance practice of the London office. James’ practice focuses on public and private offerings of debt and equity-linked securities, advising issuers and underwriters on the standalone issue and offering of retail and wholesale medium term notes, commercial paper, certificates of deposit, warrants, convertible and exchangeable bonds and covered bonds, as well as the establishment and update of platforms for the issuance of multiple types of securities, the structuring of liability management transactions and the provision of ongoing advice on securities laws, corporate governance and stock exchange requirements related to them.

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The early take-up in 2019 of SONIA in the Sterling floating rate note markets was made possible because SONIA (unlike SOFR and many other risk free rates) was already in use in the well-established market of sterling denominated overnight indexed swaps (OIS).  This fortuitous fact meant that regular issuers of Sterling LIBOR-linked securities could, with